Campbell Estate plans new industrial park in Kapolei
Campbell Estate needs Land Use Commission approval for the project
Campbell Estate is seeking approval from the state Land Use Commission to put a new industrial park on a 332-acre parcel in Kapolei in West Oahu.
If the state approves Campbell Estate's petition for urban use, Kapolei Harborside Center would provide needed space and harbor access for businesses and more jobs for the region, said Dan Davidson, vice president of Kapolei Property Development LLC, an affiliate of the James Campbell Estate.
"It will likely create as many as 2,000 new jobs," Davidson said.
In addition to providing needed employment opportunities in the region, the project also may help to alleviate tight industrial market conditions in Oahu, which had a 1.8 percent vacancy rate and the end of last year.
"There's a significant pent-up demand for industrial space and uses," Davidson said. "We think demand will further increase if the Kalaeloa/Barber's Point Harbor goes to containerization."
The project, which has been discussed for some time, represents the final build-out of Campbell Estate industrial lands.
Work would begin in 2008 or 2009 and take about a decade, Davidson said.
Nearby industrial land being marketed by commercial real estate firm Colliers Monroe Friedlander will likely come to fruition sooner, since those properties already have industrial entitlements, he said.
The state Land Use Commission began a hearing on the petition yesterday to determine what environmental and procedural steps must be completed for the Kapolei Harborside Center to move forward.
Campbell Estate already has begun preparing an environmental impact statement, which it will present to the Land Use Commission later this year, Davidson said.