Mililani Shopping Center for sale


POSTED: Tuesday, August 18, 2009

Mililani Shopping Center has been listed on the market for $55 million.

Colliers Monroe Friedlander is marketing the 180,300-square-foot, fee-simple center on behalf of owner A&B Properties Inc.

A&B acquired the center at 95-221 Kipapa Drive in 2002 for $30.2 million from the Morita Co.

The center, built in 1976, sits on about 12.8 acres and is anchored by Foodland, Ross Dress for Less and 24-Hour Fitness.

About 50 tenants include Bank of Hawaii, Blockbuster, GameStop, Starbucks, the Shack and Wahiawa General Hospital.

Colliers executives said it has had historically high occupancy rates and high tenant retention.

“;This is an opportune time for investors who have been waiting on the sidelines for an attractive commercial property, one that offers exceptionally stable cash flow, limited competition and an ideal location in a mature market,”; said Colliers broker Mark Bratton.

Colliers is marketing the center at http://www.MililaniSC.com.