Avalon Development Co. LLC, a local development firm, has announced that they have purchased the second phase of the Kapolei Business Park for $25 million. The tentative plan is to divide the 54-acre industrial subdivision into 17 smaller lots to sell to businesses that have industrial needs. Avalon also plans to retain a total of 26-acres into a commercial complex with space available for businesses to lease. President and CEO of Avalon, Christine Camp, stated, "This is an unprecedented time for growth of construction-related industries on Oahu. With limited land available for private ownership, Kapolei Business Park will be a beacon for small-business empowerment." Camp added that she plans to start sales soon, and hopes to be able to deliver the lots to buyers by the end of this year.
Source: Honolulu Star Advertiser, 4-11-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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