Shimogawa Scoops

Takeaways from Hawaii’s Real Estate Forecast: Mike Hamasu, Colliers (no magician hat this year) -Investment: 2% drop in total volume expected in 2018 when compared to 2017 but volume will still be higher than normal -There will be more smaller investments this year (under $10M) and more local players involved -There’s a gap that’s growing as market continues to stay at its peak. The gap=buyer asking for lower price because seller may be fearing that upswing may be nearing end.  Jack Suyderhoud, Economist -Avg. economic upswings: 59 months, current: 73 months -2020-2021: when upswing might end Anthony Provenzano, Sofos: Industrial -Developers need to build new product -Demand for space remains high -Rents should creep up more Matt Raff, Standard Commercial: Office -We need more STEM companies to expand to Hawaii to shake up the stagnant market  -CBD still depressed. Tenant’s market  -Douglas Emmett still looking to acquire office building to convert to residential....

OliverMcMillan/Queen Emma Waikiki Apartment Project · ·         - Needs Waikiki Special District Permit, Planned Development Apt. Permit ·          -Possible name: “OM Kuhio @ Waikiki ·         - Site zoning: Apartment/Mixed Use ·          -65 year ground lease to start in 18 months ·         - 20%, or 100 units of the 500 total apartment units to be “affordable” at 80% AMI ·          -2.52 total acres of land involved (Food Pantry site, old Perry Smorgy’s site, 3 small walk-up apts (Waikiki Regents, Beachside 1 & 2, Queen Emma Apts). ·          - Project sites borders Walina St., Kuhio Ave. and Kanekapolei St. ·          -The 3 small walk-up apts (total 5...

With a little more than half a year under my belt as a real estate analyst for Avalon Development/Commercial, there has been much activity to notice in probably one of the most important industries in Hawaii not named tourism. What’s surprising is that many felt that deals would slow down in 2017 and then slow even further in 2018. However, that has not been the case. There has been a slew of recent major hotel deals with major real estate player Blackstone buying the iconic Turtle Bay Resort on Oahu’s North Shore and then the Waldorf Astoria’s Grand Wailea Resort on Maui. Beyond hotels, there has been lots of trading going on in other such industries such as industrial, retail and office sectors. So why do the deals keep on flowing? It could be for a variety of reasons. For one, there’s still tremendous consumer confidence and the credit markets continue to favor aggressive investors. The stock market continues to soar and here at home, Waikiki is embarking on its best year e...

For the first time ever, the University of Hawaii Manoa Shidler College of Business, UH Athletics and the CCIM Hawaii Chapter teamed up for an event. Besides networking with such professionals as Shidler College Dean Vance Roley, Linda Gee of Standard Commercial and CCIM President Anthony Provenzano of Sofos Realty, it was fascinating to hear the “behind the deal” stories from key executives from such Hawaii commercial real estate heavyweights as A&B and BlackSand Capital. Jeff Pauker, VP of investments for A&B, spoke about how the tricky Manoa Marketplace deal came about. The deal was a challenge because the land and buildings were owned by separate entities. Pauker said from start to finish, it took A&B about 18 months to get this deal done. A&B first approached the owners of the land, a local family who was ready to sell. There also was less than 10 years left on the ground lease, so when A&B approached the owner of the buildings, an entity in California, ...