Engineering firm buys Hawaii souvenir giant's headquarters

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Geolabs Inc., a Honolulu-based geotechnical engineering firm, has purchased The Madden Corp.'s headquarters in Waipahu for $10.8 million.
The deal closed in July with Colliers International Hawaii representing the seller — The Madden Corp.
Located on Koaki Street, The Madden Corp. put its headquarters up for sale in 2016. The Hawaii-based company sells such souvenir items as calendars and mugs under its Island Heritage brand. The 47,680-square-foot building that's situated on more than 57,000-square-feet of land in the Mill Town Center Business Park, has a replacement cost of about $16.5 million.
Geolabs, which has three locations, including one in Honolulu on Kalihi Street, as well as on Maui and in Oakland, California, was established in 1975. 
The company has worked on many high-profile projects in Hawaii, including the International Market Place in Waikiki, Ala Moana Center, Moana Pacific high-rise condominium and Kahului Airport.

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