The Buzz
The Buzz
The battleground for Hawaii commercial real estate companies now is in investment property. Battle of the
brokers ragesThe spoils include Waikiki hotels, office buildings and properties with redevelopment potential.
Those properties sit for awhile until an "investor or developer sees that there's potential to buy it, turn it around and make a few bucks," said Andres Albano, CB Richard Ellis Hawaii vice president of consulting services.
The company was credited with $350 million of the $500 million in investment properties sold last year, putting a fire under many a leather chair in Honolulu.
Albano said the stock market downturn is likely to have investors looking at real estate more favorably.
"We're banking on the fact that because Hawaii's still just coming out of the doldrums, we're still a good buy," Albano said.
Pele patter
A highlight of the Hawaii Advertising Federation Pele Awards was the video prepared by AdWorks Inc. with a little help from their friends.
It was Adworks' year to create and produce the video and printed materials for the awards evening.
The spoof's underlying premise was alternate uses for the pyramid-shaped Pele award.
One suggestion was "figure enhancement" as demonstrated by a woman; Ogilvy & Mather Hawaii adman Marc Witter was shown lying on awards arrayed as a bed of nails, for "relaxation."
The "best one," said Starr PR Vice President Peter Rosegg, was the "revenue improvement" segment.
Marty Schiller, president of financially struggling The Schiller Group Ltd., looked bedraggled in shirtsleeves and a loosened necktie, while hawking his Peles from a card table in Bishop Square.
Erika Engle is a reporter with the Star-Bulletin.
Call 529-4757, fax 529-4750 or write to Erika Engle,
Honolulu Star-Bulletin, 500 Ala Moana Blvd., No. 7-210,
Honolulu, HI 96813. She can also be reached
at: eengle@starbulletin.com