Castle Foundation Selling Kaneohe Ranch Commercial Real Estate Portfolio
By Yvonne Jaramillo Ahearn, Esq. (B), REALTOR-Broker, CRS, GRI, ABR CLHMS
(Hawaii Life Real Estate Brokers)
Commercial real estate in Kailua will never again be the same when the Harold K.L. Castle Foundation sells its commercial real estate portfolio, which is managed by Kanoehe Ranch. These holdings were recently put on the market, according to the Pacific Business News, this morning. It is not yet known what the offer price for the Kailua real estate is, but it is my estimation that Kaneohe Ranch's holdings include about 3/4 of all Kailua commercial real estate, so the price will be in the hundreds of millions. The Castle Foundation owns interests in the commercial real estate in downtown Kailua shopping centers where Whole Foods, Safeway, Foodland, Long's Drugs, Macy's and Times Market are located, among other areas and major tenants. The Kaneohe Ranch portfolio also includes interests ...
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