Waianae Mall up for sale,
owners seek $23 million

The owners of the Waianae Mall have put the neighborhood shopping center on the market for $23 million.

An investor group that includes Gentry Co. attorney Rick Fried and local real estate investor Thelma Gretzinger have hired local brokerage firm of Sofos Realty Corp. to market the 169,000-square-foot center.

Steve Sofos, president of Sofos Realty, said the sellers are taking advantage of recent job and residential growth along the Waianae Coast.

He noted that local developer Jeff Stone recently acquired the Makaha Valley Country Club and has announced plans to build a $1 billion aquarium and 1,000-room resort at the Ko Olina resort. The state also plans to build additional housing and a new medical center in Leeward Oahu, Sofos said.

The 15-acre shopping center on Farrington Highway includes an additional five acres of undeveloped land, which can be used for future expansion, Sofos said.

The mall, built in 1974, is anchored by Longs Drug Stores and City Mill.