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BH Properties has completed the acquisition of The Shops at Mauna Lani, marking the Los Angeles-based investment firm’s first transaction in the state of Hawai’i. The open-air retail center is situated along the Kohala Coast on the Island of Hawai’i and is positioned as a premier shopping and dining destination for visitors and residents in the surrounding resort area.
The property is located at 68-1330 Mauna Lani Dr. in Kamuela and encompasses approximately six acres. According to the announcement, The Shops at Mauna Lani serves as the primary retail and dining hub for the Waikoloa Resort Area, which is part of a broader resort region spanning more than 1,300 acres. This area attracts more than 1.5 million visitors annually, underscoring the center’s role in the local tourism and resort ecosystem.
BH Properties president Jim Brooks described the acquisition as a rare chance to secure a retail asset within one of Hawai’i’s most sought-after resort communities. He noted that the location and fundamentals of The Shops at Mauna Lani are strong, and that the center currently offers significant untapped leasing potential. Specific financial terms of the transaction were not disclosed.
The leasing assignment for The Shops at Mauna Lani has been awarded to CBRE. The team handling leasing responsibilities includes Kelly Graf, Connor Patterson, Kenny Brooks, Wendell Brooks, and Kimo Greenwell. Their mandate is to work with BH Properties to capitalize on the center’s vacancy and leasing upside, aligning tenant mix and occupancy with the needs of the resort-driven customer base that frequents the Kohala Coast.
With this acquisition, BH Properties expands its portfolio into the Hawai’i market while adding a coastal, resort-oriented retail asset. The combination of established visitor traffic to the Waikoloa Resort Area and the property’s position as a central retail and dining destination provides a platform for future leasing initiatives under the new ownership. No additional details were provided on existing tenants, occupancy levels, or planned capital improvements at the center.
The post BH Properties Acquires The Shops at Mauna Lani on Hawai‘i Island in First State Deal appeared first on CRE Market Beat.
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