Ewa’s largest retail complex signs up 8 more tenants

STORY SUMMARY » | READ THE FULL STORY

A $100 million neighborhood retail project is expected to bring a variety of goods and services to the booming Ewa plain.

Laulani Village, a proposed 230,000-square-foot shopping center, has added IHOP, Panda Express, Supercuts, Cold Stone Creamery, Pet's Discount, Pearl's Korean BBQ, Taco Del Mar and Price Busters to its list of growing tenants.

---

FULL STORY »

Despite a slowing economy, developers of the proposed Laulani Village in Ewa Beach are forging ahead with the $100 million neighborhood retail project.

Getting onboard A list of some of the new tenants at Laulani Village: » IHOP » Panda Express » Supercuts » Cold Stone Creamery » Price Busters » Pet's Discount » Pearl's Korean BBQ » Taco Del Mar Source: Westwood Development Group LLC

Westwood Development Group LLC, backed by Prudential Real Estate Investors, has leased 100,000 square feet of space at the 230,000-square-foot center -- set to be Ewa's largest retail complex with an estimated 50 tenants.

Tenants that have signed on so far include IHOP, Panda Express, Supercuts, Cold Stone Creamery, Pet's Discount, Pearl's Korean BBQ, Taco Del Mar and Price Busters, which has agreed to open a 15,000-square-foot flagship store.

Safeway earlier agreed to be an anchor tenant, with a 58,000-square-foot store at the center, which also has offers from two national big-box retailers to occupy half of its leasable space, three major banks and 14 other food outlets, according to leasing agent Wendell Brooks III. Another 130,000 square feet of space is in the process of being leased, he said.

"Laulani is the bright spot in the Hawaii economy," Brooks said. "Of all the centers we're working on, Laulani has got the most activity in terms of tenant interest and desirability to open."

Developers intend to create a neighborhood center with a variety of niche merchants, restaurants and entertainment for the rapidly growing Ewa population.

Turmoil in the credit markets has not affected the project because of the solid credit of tenants and the developers, he said. In addition, the center is expected to withstand a slowing economy because of its focus on working families in the neighborhood and non-discretionary goods.

"The center's layout has been improved to offer better circulation and increased visibility for tenants," said Aaron Eberhardt, Hawaii director of development for Westwood, a Michigan-based retail developer.

Westwood bought the 20-acre site at the corner of Fort Weaver Road and Keaunui Drive a year ago from Hawaiian Asset Management and Investments Corp., also known as Hamico, and San Francisco real estate investment firm Bristol Group Inc.

A deal between the previous owners and Target Corp. fell through early last year before Westwood acquired the prime property, which in the coming years will be surrounded by 284 homes being developed by Gentry Homes and up to 4,850 residences by Haseko. Westwood declined to comment on Target's continued interest in the site.

"We don't need more cars on the road so having that connectivity that the city wants also means having goods and services readily available for people in these communities," said Rick Hobson, Gentry Homes' vice president of sales and marketing.

Developers expect to break ground on Laulani Village by year's end, with an opening projected by mid-to-late 2009.