New York company selling gas station properties in Hawaii

-

The New York company that purchased Chevron Corp.'s Hawaii operation last year is already looking to sell 12 gas station and convenience store properties that span from Waipahu to Honolulu on Oahu with an asking price of $49.5 million.
A CBRE Hawaii sales listing says that One Rock Capital Partners' subsidiary IES Retail LLC intends to sell these properties that total nearly 5.7 acres and then strike a lease deal with the new owner of these properties. The sale leaseback involves 20 years with three five-year options to renew.
The gas stations are being operated under the Texaco brand, and are located in Waipahu, Pearl City, Honolulu and Kailua. CBRE Hawaii says that the net operating income for these stations is about $2.8 million.
Late last year, One Rock Capital purchased Chevron Hawaii's assets including the refinery in Kapolei, four production distribution terminals on Oahu, Maui, Kauai and the Big Island and nearly 60 retail gas stations. The total purchase price of the sale was not disclosed, although the price is well over $100 million. As part of the deal, the gas stations were transformed into Texaco-branded stations.

Comments

Post a Comment

Popular posts from this blog

Architecture firm starts process to build new office at Bank of Hawaii building

-
Image
G70, one of the largest architecture firms in Hawaii, has officially started the process of building out its new office spaces in Downtown Honolulu, according to public documents filed Tuesday. The Honolulu-based firm has filed two building permits totaling about $1.2 million for the build-out of its new digs at the Bank of Hawaii building at the Financial Plaza of the Pacific. G70, formerly Group 70 International, is expected to move from its current space at the McCandless Building on Bethel Street where it has been for decades towards the end of this year. The architecture firm's move follows the migration of another one of Hawaii's largest firms — AHL, formerly Architects Hawaii Ltd., which moved to the Pacific Guardian Center in Downtown Honolulu, including the penthouse space at the complex's Makai Tower.
Read more

Exclusive: 'Survivor' host Jeff Probst buys posh Hualalai Resort estate in Hawaii

-
Image
Jeff Probst, the Emmy Award-winning host of the reality television series “Survivor,” has purchased an estate within the Hualalai Resort on the Big Island of Hawaii’s west coast for $4.85 million, Shimogawa Scoops has learned. Probst and his wife, Lisa Russell, closed on their big purchase on November 1, which includes 19,864 square feet of land and a four-bedroom, 5.5-bathroom home with an office within Kulanakauhale, the newest residential community in the Hualalai master-planned resort community. The 3,770-square-foot home was built by Aina Ola and furnished by award-winning designer, Gina Willman. It has gourmet kitchens with granite counter tops, custom African mahogany cabinetry, travertine flooring and Madeira concrete shake roofs. Hualalai Realty represented both sides of the transaction. Member amenities for this property include the Keolu Clubhouse and Hualalai Canoe Club, according to Hualalai Realty. The luxury resort community includes the Four Seasons-bra
Read more

New Italian, BBQ restaurants opening at Hawaii Kai Shopping Center

-
Image
  Hawaii Kai Shopping Center, which is anchored by a newly-renovated and expanded Safeway store, is adding an Italian restaurant in the vacant former Pizza Hut space as well as a well-known barbecue restaurant and bar, Shimogawa Scoops has learned. Tex 808 BBQ & Brews has confirmed that it is moving from the neighboring Hawaii Kai Towne Center to the marina-facing side of the Hawaii Kai Shopping Center adjacent to Liko’s Tap & Table. Meantime, a few doors down, a new Italian restaurant called “Repetti’s Provisions” is opening in the former 1,230-square-foot Pizza Hut space that’s next to Island Brew. The new eatery filed a permit for this space this week. Repetti’s is spearheaded by the same owners as Maui’s Serpico’s Pizzeria Restaurant, where they serve authentic New Jersey-style pizza, amongst other Italian cuisine. Hawaii Kai Shopping Center, which recently re-paved its parking lot, adds solid tenants to its tenant mix, which already includes the likes of Longs Dr
Read more