U.S. Realty Partners Divests Two Lahaina Retail Centers for $155 Million

U.S. Realty Partners, through an affiliate, has sold a two-property retail portfolio in Lahaina, Hawaii, to 11North Partners for $155 million. The portfolio encompasses two significant retail centers: Lahaina Cannery and Lahaina Gateway.

Lahaina Cannery, located at 1221 HI-30, offers 145,839 square feet of retail space and was over 95 percent leased at the time of sale. Key tenants include Safeway, Longs Drugs, Starbucks Coffee, First Hawaiian Bank, and Jersey Mike’s Subs. The second property, Lahaina Gateway at 325 Kaewe Street, totals 136,045 square feet and features tenants such as Woodland Farms, Ross Dress for Less, Ace Hardware, O’Reilly Auto Parts, T-Mobile, Central Pacific Bank, and Maui Powerhouse Gym.

The sale was brokered by Bryan Ley and Tim Kuruzar of Northmarq, alongside Jamie Brown of Hawaii Commercial Real Estate. Additionally, Northmarq’s Joe Giordani, Alex Kane, and Matt Radich secured $96 million in acquisition financing for 11North Partners through PNC Bank. This substantial transaction highlights continued investor interest in established retail assets within the Lahaina market.