Wendell F. Brooks III of CB Richard Ellis handled thetransaction in which Westwood Development Group acquired theshopping center site from Laulani Village LLC, a partnership ofHamico and the Bristol Group. Brooks, who has been named theleasing agent for the development, notes that Westwood has nowbecome a key player in Hawaii's shopping center scene with itsacquisition of two major projects within a year.

In 2006, Westwood Development acquired the Lanihau Marketplacein Kailua-Kona and is now developing the second phase, bringing thetotal size of the project to more than 320,000 sf. Michael Bowen,chairman and CEO of Westwood Development Group, says that thislatest acquisition "continues Westwood Development Group's strategyof building a high quality portfolio throughout the islands." Bowencomments that Laulani Village "fits perfectly into thatstrategy."

Aaron Eberhardt, director of development in Hawaii for Westwood,points out that continued residential growth on the Ewa Plain andthe subsequent increase in automobile traffic are factors drivingthe demand for the Laulani Village project. The 20-acre LaulaniVillage site is located at the corner of Fort Weaver Road andKeaunui Drive. It is expected to open in the spring of 2009.