Monday, July 30, 2001

Ranch sells
Waimea building
to Kauai firm

Parker Ranch plans to reinvest
the proceeds in its other projects

Associated Press

WAIMEA, Hawaii >> Parker Ranch on the Big Island is in the process of selling a retail and commercial office building in Waimea to Kauai-based Niu Pia Farms Ltd.

The ranch said Thursday that it received an unsolicited offer for Parker Square in early July and expects the sale to become final in September.

The 17,642-square-foot Parker Square was built in 1987 and currently houses 22 retail and commercial office tenants.

Parker Ranch trustee Tom Whittemore said the sale will enable the ranch to reinvest in other projects, including the Waimea Town Center Plan.

The plan is a comprehensive long-term vision for the development of Parker Ranch lands in Waimea, he said. Parker Ranch is one of the largest ranches in the United States, covering 225,000 acres across the Big Island.

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