HONOLULU—Waipio Investments LLC has purchased46 units at Waipio Business Center, a 99-unit,class-A industrial-condominium complex here, for$21.9 million from Westcore Properties. The dealis considered one of the largest industrialreal estate transactions to occur in Hawaii since2011.
The property, located at 94-1388 Moaniani St.,Waipahu, contains units ranging between 1,500 square feetand 4,800 square feet and features common loading docks, thermalroof insulation and tilt-up concrete construction. The currentoccupancy rate of the property, which is close to the H-2 freewayand 15 minutes from Honolulu InternationalAirport, is 83.5%.
Linda Gee and Ian Clagstonewith Standard Commercial represented Westcore inthe transaction, with assistance from John Doolingof MW Commercial. The buyer representeditself.
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