Honolulu, Hawaii/USA

Despite the economic slowdown, major national retailers still have their eyes set on our state.

In fact, this week, VIctoria's Secret is opening its first store in Hawaii.

Victoria's Secret is among a number of mainland chains that have either recently opened, or are planning to open stores in Hawaii.

The reason -- many of them do really well here.

You no longer have to go to the mainland to get your fill of Target, Whole Foods, and soon, Victoria's Secret.

The lingerie, clothing and beauty products chain is opening its second largest store in the country at Ala Moana Center on Thursday.

"I think so many people go to Las Vegas or on their trips to the mainland everybody's buying Victoria's Secret. So it was about time they came here. I know that this is something we've been working on for almost 15 years to get VIctoria's Secret here," said Jasmine Tso, Ala Moana Center.

In fact, Ala Moana Center has welcomed a slew of mainland retailers in recent months and years.

"I don't know if a lot of people know this but a lot of franchises or chains that come to Hawaii are number one in their chain," said Tso.

"Costco, Ross Stores, Longs and so forth that are popular here in Hawaii and generate a lot more sales on a per square foot basis than those on the mainland," said Mike Hamasu, Colliers Monroe Friedlander.

Colliers Monroe Friedlander is a commercial real estate brokerage firm that represents the landlord for the new Pearl City Gateway, which features Babies R' Us, PETCO, and David's Bridal -- mainland chains new to Hawaii.

"Yes the retail sales are down, people are being laid off, people are losing their homes to foreclosure that's the negative economic impact, but if you're a retailers that's successful and has a product line that could sell in this marketplace you also look at it as an opportunity. Because one, maybe a landlord may be willing to negotiate a lower rate with you because there isn't a whole lot of demand out there," said Hamasu.

In addition to new chains coming in, many existing retailers are also expanding.

"Walgreens, Target, Safeway, 24 Hour Fitness is looking to expand. Longs is looking for additional stuff, plus we have a slew of yogurt shops that are planning on opening in the near future," said Hamasu.

The mainland chains that many folks in Hawaii would like to see come here include: Trader Joe's, Olive Garden, and Bath and Body Works.

But those chains have not made any announcements on their intentions to open stores in Hawaii, at least not yet.

See the online video here.

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 808-523-797 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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