Alexander & Baldwin taps Honolulu firm to handle leasing for ‘The Collection’

This rendering shows The Collection, A&B Properties' planned 466-unit mixed-use condominium project it plans to build on the former CompUSA site in Honolulu's Kakaako neighborhood.

This rendering shows The Collection, A&B Properties’ planned 466-unit mixed-use condominium project it plans to build on the former CompUSA site in Honolulu’s Kakaako neighborhood.

Alexander & Baldwin Inc.’s subsidiary has tapped Honolulu-based Beall Corp. to lease out the ground floor commercial spaces of its 465-unit The Collection mixed-use project in Kakaako, Beall Corp. confirmed to PBN this week.

The Collection, which is next to Kamehameha Schools’ Salt at “Our Kakaako” 85,000-square-foot restaurant and retail complex, has ground floor commercial space totaling 12,022 square feet.

Beall Corp. said that with eight planned new high-rises within a half-mile radius and three currently under construction, retailers will have access to a captive audience of local residents and visitors.

Located at 600 Ala Moana Blvd. on the site of the former CompUSA store, The Collection consists of a 43-story condominium with 397 units, a four-story building that houses 54 loft-style units and 14 three-bedroom townhomes.

Construction on Honolulu-based A&B Properties Inc.’s $200 million project began about a year ago, and is scheduled to be completed by late 2016.

Duane Shimogawa
Reporter
Pacific Business News

Alexander & Baldwin says The Collection condo project in Honolulu is nearly sold out

COURTESY IMAGE Honolulu real estate company Alexander & Baldwin Inc. announced plans to develop the former CompUSA site on Ala Moana Boulevard into a condo tower complex called The Collection, which will also include retail shops and restaurants. It's one of three development projects on Kamehameha Schools Our Kakaako master plan. A third project will to be announced Friday.

COURTESY IMAGE
Honolulu real estate company Alexander & Baldwin Inc. announced plans to develop the former CompUSA site on Ala Moana Boulevard into a condo tower complex called The Collection, which will also include retail shops and restaurants. It’s one of three development projects on Kamehameha Schools Our Kakaako master plan. A third project will to be announced Friday.

Alexander & Baldwin is reporting that most of the units in The Collection residential condominium tower and mid-rise building, now being built on the site of the former CompUSA store in Honolulu, have been sold.

The Honolulu-based company, in its earnings report released on Thursday, noted that about 98 percent of the project’s 451 tower and mid-rise units “have been sold under binding contracts.”

The 43-story condominium project, located at 600 Ala Moana Blvd. in Kakaako, includes 397 one-, two-, and three-bedroom units that are adjacent to a 4-story building that houses 54 loft-style studios, two-bedroom and three-bedroom units.

Construction on the $200 million project began in October, when Alexander & Baldwin closed on the purchase of the three-acre site from Kamehameha Schools, and is slated to be complete by late 2016.

Meanwhile, sales for the project’s 14 three-bedroom townhomes along South and Auahi streets began last month.

Darin Moriki
Reporter
Pacific Business News

Alexander & Baldwin’s $200M The Collection Kakaako condo project 94% sold

Alexander & Baldwin Inc.’s The Collection condominium project in the Honolulu neighborhood of Kakaako is 94 percent sold, the Honolulu-based company said Thursday in its first quarter earnings report.

The $200 million project, which started construction in October at the former CompUSA lot, includes a 397-unit high-rise tower, a 54-unit mid-rise building, 14 town homes and retails shops and restaurants on the block bounded by Ala Moana Boulevard, Auahi, South and Keawe Streets.

Honolulu-based Alexander & Baldwin (NYSE: ALEX) bought the land beneath the project from Kamehameha Schools for $23 million. The project is estimated to be completed in late 2016.

On Thursday, A&B reported a profit of $25.3 million in the first quarter, down from a profit of $35 million in the same quarter last year.

Revenue for the first quarter was $150.7 million, compared to $94.8 million in the first quarter last year.

Duane Shimogawa
Pacific Business News

Alexander & Baldwin paid $23M to buy Kakaako lot from Kamehameha Schools

This rendering shows The Collection, A&B Properties' planned 466-unit mixed-use condominium project it plans to build on the former CompUSA site in Honolulu's Kakaako neighborhood.

This rendering shows The Collection, A&B Properties’ planned 466-unit mixed-use condominium project it plans to build on the former CompUSA site in Honolulu’s Kakaako neighborhood.

Alexander & Baldwin Inc.’s real estate subsidiary paid $23 million to Kamehameha Schools to purchase the three-acre former CompUSA lot in Kakaako, the site of the Honolulu-based developer’s 465-unit mixed-use The Collection condominium project, according to public records.

In October, A&B Properties Inc. said it purchased the lot, which is bounded by Ala Moana Boulevard, and Auahi, South and Keawe Streets, from Kamehameha Schools for an undisclosed price.

The $200 million project, which is made up of three residential components — The Tower’s 397 units, The Lofts @ The Collection’s 54 units and 14 urban townhomes — began construction in October at the 600 Ala Moana Blvd. site.

The tower part of the project is more than 75 percent sold, while the lofts sold out within a day. The townhomes are expected to be on the market before the end of the year.

A&B Properties said that Hawaii residents represent 85 percent of buyers to date of the tower and loft components of The Collection.

The project is estimated to be completed in late 2016.

Duane Shimogawa Reporter – Pacific Business News

Alexander & Baldwin buys land at its planned The Collection condominium in Kakaako

This rendering shows The Collection, A&B Properties' planned 466-unit mixed-use condominium project it plans to build on the former CompUSA site in Honolulu's Kakaako neighborhood.

This rendering shows The Collection, A&B Properties’ planned 466-unit mixed-use condominium project it plans to build on the former CompUSA site in Honolulu’s Kakaako neighborhood.

Alexander & Baldwin Inc.’s subsidiary has acquired the three acre former CompUSA lot in Kakaako from Kamehameha Schools that it will use to develop its 466-unit mixed-use The Collection condominium project. Construction is scheduled to start soon and estimated to be completed in late 2016.

Terms of the deal were not disclosed.

Located at 600 Ala Moana Blvd., the $200 million project is made up of three residential components.

The Tower, which is currently 76 percent sold, and includes 397 units in a 43-story building, is the project’s initial component.

The second phase is The Lofts @ The Collection, which consists of 54 condo residences within a four-story mid-rise building, and sold out in less than a day.

Plans for the final phase of The Collection, 14 urban townhomes, will be announced at a later date.

The Collection, which is bounded by Ala Moana Boulevard, and Auahi, South and Keawe Streets, also has 13,000-square-feet of commercial space planned for shops and restaurants.

Duane Shimogawa Reporter – Pacific Business News

Alexander & Baldwin’s Lofts @ The Collection in Honolulu sell out over the weekend

the-collection-artist-rendering-with-the-lofts-callout-600xx1867-2800-267-0Homebuyers looking to score a loft at Alexander & Baldwin’s Honolulu condominium project The Collection in Kakaako waited in lines for hours over the weekend to pay at least $349,000 for a studio, the developer said Monday.

In all, 54 owner-occupied lofts sold, including 48 studios, priced between $349,000 and $370,000, to six two-bedroom, two-bathroom lofts priced from $540,000 to $580,000.

The first potential buyer arrived at the sales office at 1:30 a.m. on Friday, said Lynn Kenton, a spokeswoman for the project.

Officials gave out 20 place-saving tokens by Friday evening, and 60 total, before sales began at 9 a.m. on Saturday.

“Some people were there for themselves, and there were some who had it all planned and took shifts,” Kenton said. “And there may have been other people representing the person who wanted to purchase.”

This Lofts @ The Collection is the second phase of A&B’s The Collection, which will consist of a tower with two-and-three-bedroom condos, as well as a third phase made up of townhouses.

The $200 million, 397-unit project is located at the former CompUSA site at Ala Moana Boulevard and Auahi, South and Keawe streets.

Bill Cresenzo Reporter – Pacific Business News

New Kaka’ako condos to go on sale

The-Collection-Artist-Rendering-with-The-Lofts-callout-jpgNew Kaka’ako condos to go on sale

HONOLULU —Developer Alexander and Baldwin just unveiled the newest phase of their Kaka’ako project dubbed the Collection.

It will include 48 one-bedroom and six two-bedroom condos with a starting price around $350,000.

“A&B Properties, Inc. is thrilled to offer these contemporary loft-style homes with both design and price set to appeal to young professionals, new families, college students, and truly anyone looking for the affordable urban-lifestyle,” said A&B Properties President Christopher Benjamin.

The project has Hawaii Community Development Authority and neighborhood board approval.

Sales will begin in the summer.

The condos will be offered for purchase without income or re-sale conditions.
Read more: http://www.kitv.com/news/new-kakaako-condos-to-go-on-sale/25849512#ixzz31oQjyrXY

Sales of units at the Lofts @ The Collection in Kakaako will begin this summer, developer says

the-collection-artist-rendering-with-the-lofts-callout-600xx1867-2800-267-0May 8, 2014, 6:22am HST
Sales of units at the Lofts @ The Collection in Kakaako will begin this summer, developer says

Bill Cresenzo Reporter – Pacific Business News

Sales of units at The Lofts @ The Collection, a condominium project in Kakaako, will begin this summer, developer A&B Properties said this week.

The 54 lofts are part of a $200 million, 397-unit project at the former CompUSA site at Ala Moana Boulevard and Auahi, South and Keawe streets.

The 54 condos, including 48 one-bedroom units and six two-bedroom units, will be priced from the mid $300,000s, said A&B Properties, a subsidiary of Alexander & Baldwin Inc..

Meanwhile, sales continue for the condos in the project’s 43-story The Collection tower.

A&B Properties also plans to build 16 townhouses on the site.

Whether it’s the perfect Ala Moana Boulevard location or its incredible value, The Collection is the best choice for a new residential condominium in Kaka’ako today!

The Collection showcases modern design choices, advanced features, well-executed details, and breathtaking ocean and harbor views. Whether it's the perfect Ala Moana Boulevard location or its incredible value, The Collection is the best choice for a new residential condominium in Kaka'ako today!

The Collection showcases modern design choices, advanced features, well-executed details, and breathtaking ocean and harbor views. Whether it’s the perfect Ala Moana Boulevard location or its incredible value, The Collection is the best choice for a new residential condominium in Kaka’ako today!

The Collection showcases modern design choices, advanced features, well-executed details, and breathtaking ocean and harbor views. Whether it’s the perfect Ala Moana Boulevard location or its incredible value, The Collection is the best choice for a new residential condominium in Kaka’ako today!

Thoughtfully Fashioned Indoor Spaces

  • Contemporary lobby gallery and e-lounge where you’ll meet friends and family
  • Entertainment “flex” rooms where you can sing karaoke or work out with “fitness on demand”
  • The club and party room provides a full kitchen for your enjoyment
  • Work out in a state-of-the-art fitness center
  • Yoga, Pilates or dance room, it’s your choice
  • Tune up your bike or work on your board in the one-of-a-kind community workshop
  • Lock up your toys in the surfboard and bike storage areas
  • Secured entry with controlled access of the garage and towers

Your Connection to the Outside Environment

  • Perfectly sized pool is great for relaxing or swimming laps with outdoor lounges around the spa
  • Barbeque dining pavilions and lounge seating are ideal for Hawai’i’s beautiful nights
  • Watch a movie – outside
  • Let the kids play in their own dedicated space
  • And dogs will enjoy the unique “Laundry Mutt” dog washing and play area

Style and Simplicity

A sophisticated urban aesthetic paired with materials and elements that complement each other. The Collection showcases modern design choices, advanced features, well-executed, details and breathtaking Diamond Head, ocean or harbor views. Whether it’s relaxation or inspiration you desire, your new home at The Collection accommodates your lifestyle.

The Collection delivers popular new design trends using a mix of materials – glass, wood and aluminum – and technology to create a home that’s contemporary and unique. The innovative building designs recognize your desire for low-maintenance living, energy- efficiency and well-crafted spaces.

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Why A&B didn’t go with a Hawaiian name for The Collection

Aug 26, 2013, 2:24pm HST

Duane Shimogawa  |  Reporter- Pacific Business News

There’s Keola Lai, Waihonua, One Ala Moana and The Collection, four Kakaako high-rise condominium projects either developed, or being developed, or financially backed by Honolulu-based Alexander & Baldwin Inc.

Alexander & Baldwin wanted to create a "new sense of place" with its Kakaako condo project by naming it The Collection, CEO Stanley Kuriyama said.

Alexander & Baldwin wanted to create a “new sense of place” with its Kakaako condo project by naming it The Collection, CEO Stanley Kuriyama said.

Note that only one, The Collection, doesn’t share a Hawaiian name like the other three.

Some in the real estate industry and others have been wondering why A&B chose to go with a name like The Collection as opposed to a Hawaiian name.

That’s why I decided to bring the topic up during a recent one-on-one interview with A&B Chairman and CEO Stanley Kuriyama.

He told me that the company’s first instinct was to go with a Hawaiian name, but they ultimately felt it was time to be different.

“[We] were trying to create a new sense of place,” Kuriyama said inside a boardroom at the historic A&B Building in Downtown Honolulu. “[It’s] a little bit of a break from our tradition, [as we tried to] create a more hip, modern, urban living environment.”

Thus far, The Collection has had a good response with buyers, with nearly 70 percent of the 397 units for the 43-story condo project already sold.

Company Disclaimer: Information is deemed reliable but not guaranteed.