News Summary
Bowers and Kubota Consulting has completed a significant acquisition of a 12-story office building located at 1601 Kapiolani Blvd. in Honolulu for approximately $19 million. This transaction marks a notable investment in the local commercial real estate market, with plans to consolidate their Hawaii operations in the newly acquired space. The building is well-known in the area, offering nearly 75,000 square feet of office space and housing various businesses, with no disruptions expected for existing tenants.
Honolulu sees Major Commercial Real Estate Transaction as Bowers and Kubota Consulting Purchases Office Building
Honolulu, Hawaii – Bowers and Kubota Consulting, a company based in Waipahu, has acquired a prominent office building situated at 1601 Kapiolani Blvd. The purchase was finalized for approximately $19 million, marking a significant investment in Honolulu’s commercial real estate market.
Details of the Acquisition
The building in question is a 12-story tower constructed in 1991 that totals nearly 75,000 square feet of office space. The property has long been a well-known fixture in Honolulu, hosting a wide range of businesses including medical, dental, accounting, healthcare administration, and retail services.
Bowers and Kubota Consulting specializes in construction, project management, architecture, and engineering services. The company announced plans to consolidate their Hawaii-based operations into this new office space, aiming for improved operational efficiency and a central location for their Hawaii team.
Sale and Representation
The seller of the building was Shaw Foundation Properties, a company based in Hong Kong. The transaction was facilitated by Colliers Hawaii, a local real estate services firm, which represented Bowers and Kubota Consulting. On the other side, Pacific Properties Group represented the seller in the deal.
Why This Building Was Attractive
According to Brandon Bera, an executive vice president at Colliers Hawaii, the building is considered a relatively new structure by Hawaiian standards and remains in excellent condition. The building also offers ample parking, a feature that is highly valued in Honolulu’s busy commercial districts. These factors contributed to making the property an attractive purchase for Bowers and Kubota Consulting.
Impact on Local Businesses and Future Plans
Despite the acquisition, Bera confirmed that the sale will not negatively affect the current businesses operating within the building. The tenants, which include a wide array of professional services, will continue their operations uninterrupted. The company’s purchase is viewed as a strategic move to expand their presence in Honolulu without causing disruption to existing tenants.
Background and Market Context
Honolulu’s commercial real estate market has experienced steady activity in recent years, driven by local economic growth and increased demand for quality office spaces. Properties like the 1601 Kapiolani Blvd. building are considered desirable assets due to their location, condition, and the variety of tenants they attract. While the property market remains competitive, the recent transaction signals ongoing investor interest and confidence in Honolulu’s commercial sector.
This purchase underscores Bowers and Kubota Consulting’s commitment to strengthening its Hawaii operations through real estate investment. The firm’s decision to acquire a well-maintained, strategically located office building aligns with its broader business growth plans and the city’s expanding commercial landscape.
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