May 7, 2019
San Diego-based Parallel Capital Partners Inc. assumed asset management of a $300 million portfolio of commercial and retail properties in downtown Honolulu. The firm also tapped Steven Sullivan, a former vice president of operations at The Shidler Group, as regional vice president for the Hawaii market.
As part of the deal, Parallel will oversee day-to-day management as well as leasing oversight for a one million-square-foot portfolio. It is comprised of office buildings including Waterfront Plaza (550,000 square feet) and Davies Pacific Center (375,000 square feet), as well as two retail assets known as Waikiki Marketplace and King Kalakaua.
Parallel Capital Partners’ Matt Root says, “Our firm will oversee several million dollars in improvements to these properties – maintaining the original Hawaiian design aesthetic throughout – with a focus on enhancing the tenant experience through physical improvements, upgraded digital strategies and enhanced data analytics capabilities.”
For comments, questions or concerns, please contact Dennis Kaiser