Don't look now, but the commercial face of Wailuku and Kahului is expanding dramatically. Leading the way are five new projects that are already open, just about to be completed or entering the next phase of construction.
MAUI LANI SHOPPING CENTER
The black cloth has come down; the roadway improvements are almost finished; it can't be much longer until Central Maui has a large, new retail complex. The new mall is located at the corner of Ka'ahumanu Avenue and Maui Lani Parkway across from Kaiser's Maui Lani Clinic. It consists of 43,000 square feet of rentable space on a 12-acre site with Safeway as the anchor tenant. Maryl Construction is the builder.
Maui Lani Shopping Center is almost complete. The new mall built on a 12-acre site is anchored by Safeway and will contain a variety other retail uses. Maryl Construction is the builder.
MAUI LANI VILLAGE (VMX-mixed use)
Maui Lani Village in Wailuku is a fee-simple commercial project located at the intersection of Waiale Road and Kuhikahi Drive. It is Central Maui's only fee-simple mixed-use commercial project and also allows live-work options. A variety of businesses have already purchased and built in Maui Lani Village, including Paradise Beverage, Union 76 Gas, Ace Hardware, Oceanic Time Warner Cable and many others. The first phase of its professional row is nearing completion and a second phase is under consideration.
Buyers in this complex can choose from one or more contiguous lots ranging from approximately 7,500 square feet to more than 328,000 square feet. Finished lots are graded, with standard five-eighths-inch water meter, utilities stubbed, and a 48-foot height limit. For project highlights, visit www.mauilani.com/welcome/home/properties/comvillagevmxhighlights.
CANNERY BUSINESS PARK - 221 Wakea Ave., Kahului
The Cannery Business Park is already completed and at 100 percent occupancy at 221 Wakea in Kahului. This property, owned by veteran Maui real estate investor Mike Fergus, demonstrates that some people have the Midas touch even in the most difficult of times.
Fergus bought property, formerly part of the Maui Land & Pine cannery, in fee at the depths of the downturn. He then remodeled and upgraded the aging buildings to code in order to provide badly needed warehouse space in Central Maui. Features include clean, high-cube warehouse bays with roll doors, loading docks, ample parking and container storage, additional yard space, and six-inch water meter with heavy power.
According to Property Manager Kalani Ho-Nikaido, principal broker of Nikaido Realty Group, the multi-acre industrial complex is entirely full. Current tenants include: Homeworld Furniture, RME Construction Supply, Maui Linen Supply, Island Heritage, CWR Hawai'i, RSI Roofing Pepsi-Maui and Hawai'i Foodservice Alliance.
Ho-Nikaido said a second phase is contemplated. Commercial Properties of Maui is the leasing agent.
MAUI BUSINESS PARK PHASE II - North and South Projects
No slouch at using economic adversity to their own advantage, Alexander & Baldwin (A&B), Maui's largest landowner, used the recession to make headway on development of their 179-acre industrial-zoned lands in Kahului. The A&B development, named Maui Business Park Phase II (MBP), is in close proximity to the airport and harbor. Lots from one-half acre to 20 acres are now available for sale according to the A&B Website. Though their present Loopnet listings do not disclose the asking prices, they are said to range from about $45 to $60 per square foot.
Currently, Loopnet shows a total of 65 lots--the North Project (29 lots) and the South Project (36 lots). Construction of the infrastructure has been completed with all improvements in place. MBP's M-1 (light industrial) zoning allows for warehousing, distribution, light manufacturing as well as retail and office uses.
KEHALANI VILLAGE SHOPPING CENTER
Now leasing at the Waiale and Kuhikahi junction in Wailuku is the new Kehalani Village Shopping Center. The first increment features the recently opened Longs Drugs. Coming soon are additional tenants, including Foodland, McDonald's, The Coffee Bean & Tea Leaf and Aloha Petroleum. Phase I will include two retail buildings of 12,000 and 14,000 square feet and a freestanding restaurant and bank. Phase II, when complete, will feature office, retail and residential live/work condominiums according to the property's Website.
For additional information these and other Maui commercial properties, visit mauicommercial.com/index.php for Commercial Round Table of Maui inventory listings or Loop Net listings at www.loopnet.com.