JLL to Manage Hawaii Shopping Center
- Sep 02, 2016
Earlier in August, Chicago investment management firm Heitman Capital Management LLC acquired the luxury Maui shopping center. The property’s purchase price was $342 million, according to the sales deed obtained by the Pacific Business News.
Located in the heart of the affluent Wailea Resort, the 176,229-square-foot center features global luxury retailers including Louis Vuitton, Prada, Gucci, Bottega Veneta, Rolex and Tiffany & Co., with Island Gourmet Market launching in September.
Hawaii Retail Market Lead Kirk Horiuchi is leading the JLL team on this management assignment. Leslie Brown of Leslie Brown Associates has been retained to perform leasing services for the center.
“The Shops at Wailea is one of Hawaii’s most prominent luxury shopping centers and a destination for both visitors and locals alike and is within walking distance of 3,000 hotel rooms and 1,400 luxury condo units,” Horiuchi said in prepared remarks. “We are very excited to be managing this trophy property for its new owner, and look forward to enhancing its revenue by creating operating efficiencies.”
JLL leases or manages some of Hawaii’s largest and most prestigious shopping centers, including Windward Mall in Kaneohe, Keauhou Shopping Center in Kona, Queen Kaahumanu Center in Kahului, Kings’ Shops in Waikoloa, as well as Hawaii Kai Towne Center and Kapalama Center in Honolulu.
Image via Google Street View