From the Pages of the Pacific Business News – One Kapiolani, the two-story, 44,231-square-foot office building with ground-floor retail space at 600 Kapiolani Blvd. in Honolulu, is on the market for an undisclosed price.
Wisconsin-based CUNA Mutual Investment Corp. is listed as the owner of the property, which has an assessed value of $9.35 million, according to the most recent City and County of Honolulu property tax records, which also show that it bought One Kapiolani in 1985 for $7.25 million.
New York-based Cushman & Wakefield and Honolulu-based Sofos Realty Corp., a tenant in the building, are representing the seller in the fee-simple offering.
“This is the only real estate asset CUNA owns west of the Mississippi,” Sofos Realty President and CEO Steve Sofos told PBN in an email. “Originally, the building was purchased so as to be a home for all of the smaller credit unions, but the plan never materialized.”
The building has 19 tenants, including TJ’s Sports Bar & Grill and Kabuki Restaurant.