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Grocery-Anchored Retail Center in Lahaina, Hawaii Trades in $37 Mil Deal

12/23/22

Westlake Village-based U.S. Realty Partners Inc closed on a $37.25 mil retail buy in Hawaii, purchasing Lahaina Gateway, a 136k sf ($274/sf), grocery-anchored center in Lahaina.

Lahaina Gateway is one of the newest shopping centers in Western Maui anchored by Foodland Farms, Ace Hardware and Ross with a diverse mix of health, beauty, food, auto care and financial services. The additional tenants include Vitamin Shoppe, Supercuts, Local Motion, Maui Powerhouse Gym and more.

Situated at 325-355 Keawe St, the property benefits from an ideal location on one of the main thoroughfares in Maui, the Honoapiilani Highway. The 11.35-acre site provides excellent visibility and accessibility due to its extensive frontage and two points of ingress/egress on Keawe Street. The recent completion of the Lahaina Bypass now provides additional access to Keawe Street from the west, and the property sees over 80,000 cars per day traffic count.

Bryan Ley, Gleb Lvovich, Geoff Tranchina and Keenan Sue with JLL Retail Capital Markets represented the seller, an institutional investment firm.

“The sale of Lahaina Gateway continues to show the desire of investors for strong grocery-anchored shopping centers in high barriers-to-entry markets,” Ley said. “Lahaina Gateway is located at a marquee intersection in Western Maui, and it will only get better with time with the opening of the new tenants coming to the center.”




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