DeBartolo Development LLC has previously hoped to start the construction of Ka Makana Ali’i Regional Shopping Center by the middle of 2012, but has now announced that construction will start in 2013. Ka Makana Ali’i will be built in East Kapolei and will cost an estimated $350 million to develop. DeBartolo has stated that many tenants have already signed on for the first phase of development including Walgreens, 24 Hour Fitness, and State Farm Insurance. McDonald’s is also in their final lease negotiations with the developer. These stores would probably begin opening in 2014.
The 67-acre mall site is actually being leased from the Department of Hawaiian Home Lands. The DHHL is expecting to receive more then $140 million in lease rent over the first 25 years of the development.
Source: Honolulu Star Advertiser, 6-14-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
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