Posts: 14,122
Threads: 424
Joined: Aug 2012
Well, that was fast.
I've heard that the landlord demands "mainland-style" rent for that space -- which seems to be empty more than half the time -- so I assume there's a nice tax loss involved, and it must pay better than a tenant.
I suggest that the space is too large to turn a profit; it would be nice to see it split in half, two more (different) flavors would make a nice "food court" similar to some of the Kona stripmalls.
Posts: 2,899
Threads: 489
Joined: Mar 2006
Posts: 7,746
Threads: 686
Joined: Jun 2011
"I suggest that the space is too large to turn a profit; it would be nice to see it split in half" While a great idea, having previously been a mall lesee myself, it's unlikely the landlord is going to pay for that. With a very-long term lease, MAYBE, but any changes done to structures is generally at the lesee's expense and the landlord's gain.
"it must pay better than a tenant"
Their anchor stores are bringing in enough money they can cherry pick customers who think they can only afford the high rents. Wait until Longs moves away and the new shopping center in Pahoa opens up. Not until then will you see any negotiation in lease prices, if it happens at all. Mall operators live in a delusional world where it is the 1980's forever.
Posts: 159
Threads: 1
Joined: Oct 2016
quote:
Originally posted by terracore
"I suggest that the space is too large to turn a profit; it would be nice to see it split in half" While a great idea, having previously been a mall lesee myself, it's unlikely the landlord is going to pay for that. With a very-long term lease, MAYBE, but any changes done to structures is generally at the lesee's expense and the landlord's gain.
"it must pay better than a tenant"
Their anchor stores are bringing in enough money they can cherry pick customers who think they can only afford the high rents. Wait until Longs moves away and the new shopping center in Pahoa opens up. Not until then will you see any negotiation in lease prices, if it happens at all. Mall operators live in a delusional world where it is the 1980's forever.
TC, What makes you think that Longs will move away? They perform a great service to folks who need medical prescriptions which is their main business? It would be a disservice to the community if they moved and a hardship to our citizens?
Slow Walker
Posts: 7,746
Threads: 686
Joined: Jun 2011
They are building a bigger one across the street.
Posts: 1,557
Threads: 50
Joined: Oct 2012
A bigger longs with more goods would be a money maker. Puna is still to small for a walmart. But a longs and a larger grocery store would save a few people trips to the big p.i.t.a. and be a good fit for the area.
Posts: 1,513
Threads: 18
Joined: Oct 2014
Whomever owns the Keaau strip mall have proved themselves to be the epitome of greed and by all rights and purposes should be feeling shame. Decade after decade I have personally heard from owners of the space currently vacated by Genki Keauu that the rent was simply too high.
It will again sit unoccupied until another optomistic fool thinks all is well with the world, the insanely high rent will be appeased and he/she will embark upon another restaurant dream.
Posts: 3,217
Threads: 109
Joined: Jun 2010
YAY, WE DID IT!
How about a sports bar?
Actually, how about more parking? That lot is waaaaay too small...
Posts: 1,557
Threads: 50
Joined: Oct 2012
W H SHIPMAN LTD Fee Owner
WATUMULL PROPERTIES CORP Lessee
http://qpublic9.qpublic.net/hi_hawaii_di...=hi_hawaii&KEY=161430340000
Looks like someone in honolulu is leasing it from shipman.
( the strip mall)
Posts: 2,151
Threads: 73
Joined: Mar 2007
Watumull is the outfit that "developed" HPP and persistently refuses to open up any of the 20 acre parcels set aside for commercial space in HPP. (They still own them.) When people ask about those parcels, they are told, "We have commercial properties elsewhere in Puna you might be interested in." Now we know who is behind a some of the nonsensical commercial development around here . . . and in cahoots with Shipman, no less.
