Overview

Description

• This investment opportunity is for the leased fee ownership of 9,253 SF of land under 1221 Kapiolani Blvd.
• 1221 Kapiolani is an 11 story office building that sits on two parcels of land, more details to be provided subject to NDA
• The Adjoining Lot (APN 1-2-3-007-105) is owned by a different fee owner
• The subject property has a new 90 year ground lease
• The Annual Fixed Rent has 10% rent escalations every 5 years
• Readjustment to Fair Market Rental Value at end of year 50 and every 10 years thereafter

• Subject property is strategically fronting Kapiolani Blvd (45,600 VPD)., a dense retail and business corridor serving Honolulu and Ala Moana
• The property is within walking distance of the Ala Moana Shopping Center, the largest open-air shopping center in the world
• The site is less than a mile from local marinas/beaches and Ala Moana park
• More than 317,000 residents and 284,000 employees support the trade area
• Average household income of $111,228

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