Honolulu, Hawaii/USA

Mililani Shopping Center has been listed on the market for $55 million.

Colliers Monroe Friedlander is marketing the 180,300-square-foot, fee-simple center on behalf of owner A&B Properties Inc.

A&B acquired the center at 95-221 Kipapa Drive in 2002 for $30.2 million from the Morita Co.

The center, built in 1976, sits on about 12.8 acres and is anchored by Foodland, Ross Dress for Less and 24-Hour Fitness.

About 50 tenants include Bank of Hawaii, Blockbuster, GameStop, Starbucks, the Shack and Wahiawa General Hospital.

Colliers executives said it has had historically high occupancy rates and high tenant retention.

"This is an opportune time for investors who have been waiting on the sidelines for an attractive commercial property, one that offers exceptionally stable cash flow, limited competition and an ideal location in a mature market," said Colliers broker Mark Bratton.

Colliers is marketing the center at www.MililaniSC.com.

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 12,700 employees span the world in 294 offices in 61 countries. On a worldwide basis, Colliers manages 1.1 billion square feet, and has revenue of $US 1.6 billion.

Contact Information

For further information please contact Andrew D. Friedlander at 808.523.9797 or via email at andrew@colliershawaii.com or Mike Y. Hamasu at 808.523.9792 or via email at mike@colliershawaii.com.

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