The International Market Place in Waikiki is scheduled to start a $350 million renovation and redevelopment project by the end of this year, and hopes to have everything completed by the middle of 2015. The latest update is that Saks Fith Avenue has announced that they will become the anchor tenant for the retail property with a 80,000 sq ft store. Chairman and CEO of Saks Inc., Steve Sadove, stated, "We look forward to offering the residents of and tourists to the area a great assortment of distinctive merchandise and our exemplary customer service, showcased in a beautiful new store within the International Market Place."
The tentative plan for the International Market Place would be to have approximately 360,000 sq ft of retail space in a three level project. There will be approximately 60 retail spaces and about seven restaurants in the complex. The land is owned by the Queen Emma Land Company. Taubman Centers Inc is redeveloping the International Market Place and is receiving financial support from Costwood Capital Group LLC, a real estate investment firm.
Source: Honolulu Star Advertiser, 6-15-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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