The artist Wyland dedicated Whaling Wall No. 85 on the Ewa side of the Airport Center building in 1999. The work can be seen from the the H -1 Viaduct and by passengers on airplanes. The building has been put up for sale.
Airport Center for sale
The San Diego-based owner,
eRealty Fund, is asking $24 million
The owners of the Airport Center have decided to sell the 14-story office property, perhaps best known for the massive whale murals gracing two of its sides, for $24 million.
The seller is the San Diego-based eRealty Fund, a mainland investment firm that specializes in buying and fixing up distressed or undervalued properties and then re-selling them.
ERealty Fund bought the fee-simple property at 3049 Ualena St. in 1998 through the ownership entity 3049 Ualena LLC, according to state records. It carried out an extensive renovation in 2000, with the whale murals by artist Robert Wyland adding the finishing touch.
The eRealty Fund joins a number of commercial property owners who are putting Hawaii holdings up for sale to capitalize on strong prices.
Real estate analysts say those prices reflect growing interest by mainland investment firms who view Hawaii commercial property as increasingly attractive due to the state's improving economy.
The building has 108,930 square feet of leasable space and the land area is 26,012 square feet.
Steve Sofos of Sofos Realty, the property's local listing agent, said the building had suffered from low occupancy in the past, but eRealty's renovation had helped turn the property around. It is now 93 percent leased, he said.
The airport area's only office high-rise, Airport Center features a tenant mix dominated by businesses and agencies related to airport functions, such as security.
