For those of you second Maui home buyers who like to keep an eye on real estate investment activities on this beautiful island in the Pacific, you may be interested in the recent sale of Maui Mall to a pair of Mainland investors. If you’re on the fence about investing in a residential Maui property, this should bolster your confidence.
Alexander & Baldwin Inc. recently announced their sale of Maui Mall to the Mainland investors, but did not disclose the price. What stands out the most is that Alexander & Baldwin was not actively seeking to sell the mall, which means it was the investors who sought out the purchase.
As for the future of the mall, A&B president and COO Christopher Benjamin expressed his certainty that the new owners would help the mall to continue thriving, especially thanks to their extensive experience and relationships in retail properties. Those new owners are Denver-based Alberta Development Partners and an affiliate of Chicago-based Walton Street Capital LLC. The sale is expected to close early next year.
If you’re not familiar with the mall, it is anchored by Whole Foods Market, Longs Drugs/CVS, Wallace Theaters and IHOP. It is currently being expanded to accommodate a T.J Maxx store.
If you are on the lookout for a good Maui real estate investment in either homes or condos, and you need assistance, you’ll find our contact information at the bottom of the page. We would be happy to assist you. Mahalo for reading this week!
RealEstateMauiHawaii.com – By Mark Harbison