The Waianae Mall, at 86-120 Farrington Highway in Waianae, is an 11-building center that is anchored by a Long's Drug Store, with other retailers including Starbucks, Pizza Hut, SUBWAY, RadioShack, Payless ShoeSource, Jamba Juice, Goodyear and Fantastic Sams. The purchase price includes the assumption of existing debt on the property, according to Steve Corea, senior vice president of acquisitions for Thompson National Properties.
The closing of the deal will be subject to substantial conditions, including, servicer approval of the assumption of the debt, TNP says. The listing agents for the property are Phil Voorhees, Patrick Toomey and Megan Read of CB Richard Ellis.
In its contract with the Saudi Arabian company, Thompson National Properties has been hired to provide real estate consulting, appraisal and advisory services for a portfolio that includes land, office, retail, warehouse and technical facilities. Tony Thompson, TNP's chairman and CEO, says that TNP will also "formulate business plans that will delineate clear strategies to capitalize on the true potential of the assets."
TNP will first identify, document and appraise the assets. It will then identify the strategic near- and long-term objectives of the property owner in order to determine the highest and best use for the real estate assets. Nasir Ali, director, Middle East Region for the assignment, says that it "launches Thompson National Properties squarely into the global real estate market."
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.