KHON to move offices,By Jaymes Song
studio on Piikoi Street
KHON Fox 2 has agreed to purchase space in the Hawaiki Tower condominium complex across from Ala Moana Center for a reported $7.5 million.
The station said it will use the space for a new television studio and offices.
According to Kent Baker, KHON general manager and vice president, the deal has been in negotiations for almost a year.
It recently was finalized between KHON's owner, SF Broadcasting Co.; the station's prospective buyer, Emmis Broadcasting Co.; and Nauru Phosphate Royalties Development Inc., developers of the condominium being built at 88 Piikoi St.
Brett Hill Inc. was selected as the project manager for the design and construction of KHON's 34,000-square-foot facility on the structure's ground floor.
Construction is expected to be completed sometime next year.
The cost of the move was not disclosed. However, it is estimated to be between $15 million and $18 million.
KHON is headquartered on Auahi Street in Kakaako on land leased from Victoria Ward Ltd. The station has been at the same site since 1955.
Victoria Ward intends to develop the land as part of a major redevelopment of its landholdings in Kakaako, the station said.
According to Colliers Monroe Friedlander, who represented KHON in the sale, the station looked at areas all the way to Kapolei.
"With all the factors considered -- including location, size, parking, satellite dish view planes, long-term security and financial value -- Hawaiki Tower was by far the best option," said Christopher Laird, a Colliers sales agent.
Production company McHale VideoFilm, which also is owned by SF Broadcasting Co., will move into the Piikoi Street building. The two companies employ about 115 people.
Earlier this year, KITV-4 moved from its facilities on Ala Moana to the One Archer Lane condominium complex on King Street.