Harbor Court for sale

Its Phoenix-based owner is accepting
bids for the 31-story complex

The downtown Harbor Court complex. The building's Phoenix-based owners have put it up for sale and are accepting bids through the first week of May.

The owners of Harbor Court have put the downtown office tower up for sale, according to the property's leasing agent, CB Richard Ellis.

Phoenix-based PRA Harbor Partners is accepting bids for the 31-story complex through the first week of May.

The building, located between Merchant Street and Nimitz Highway, has 201,258 square feet of office and retail space and is 80 percent occupied, according to an information sheet obtained from CB Richard Ellis.

The tower was built in 1994.

It was not clear how a sale might affect condominium units in the building. Representatives of PRA Harbor Partners and New York-based Eastdil Realty, the firm handling the sale, could not be reached for comment.

PRA Harbor Partners, which bought the building in 1999 for an undisclosed price, is the latest investor attempting to capitalize on perceptions of Honolulu as an increasingly attractive commercial property market.

Earlier this week, the San Diego-based Shidler Group said it plans to sell the 10-story Pacific Business News building on Kalakaua Avenue.

The company is putting the office building on the block along with 30 separate office condominium units at nearby Eaton Square in Waikiki. The asking price for the PBN building, located at 1833 Kalakaua Ave., is $12 million.

The Shidler Group said it wants to focus on its larger properties.


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