Family lists lot behind Kailua Macy’s store for $6M
A Kailua family that owns a 32,000 square-foot parcel behind the Macy’s department store that is closing next year has put the land — a parking lot surrounded by land owned by Alexander & Baldwin Inc. — on the market for $6.2 million.
The Honolulu Star-Advertiser reports the Mahoe family, whose trustees areWalton Mahoe and his brother, Howell K. “Chinky” Mahoe Jr., decided to sell the odd lot — which was given to their father, Howell K. Mahoe, by Harold K.L. Castle in the 1940s or 1950s as part of a trade — after Macy’sdecided to close its Kailua store early next year
The land was not included in A&B’s $373 million purchase in 2013 of the Kailua commercial portfolio and other lands from Kaneohe Ranch and theHarold K.L. Castle Foundation.
The listing with Newmark Grubb CBI Inc. notes that the commercial lot is zoned for retail and is strategically located between the new Whole Foods Market and Target stores.
http://www.bizjournals.com/pacific/blog/morning_call/2015/09/family-lists-lot-behind-kailua-macy-s-store-for-6m.html
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