808-521-1200
535 Lipoa Pky, Kihei, HI for Sale
Office - FOR SALE
1/9
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535 Lipoa Pky
Kihei, HI 96753


HIGHLIGHTS

  • NET LEASED CLASS A OFFICE INVESTMENT - A net leased multi-tenant investment opportunity with lease security and excellent WALT.
  • BELOW MARKET RENTS - The net rents are 13% below market offering an investors an exceptional mark-to-market opportunity when leases rollover.
  • HIGH BARRIERS TO ENTRY - Limited commercial zoned land, extended entitlement process, and high construction costs.
  • STABLE IN-PLACE CASH FLOW - The property is currently 97.5% leased to a diverse tenant mix.
  • RARE MAUI OFFICE OPPORTUNITY - One of the few institutional quality, multi-tenant office buildings in Maui.
  • RESILIENT SUBMARKET - Kihei’s commercial inventory remains tight with very low office vacancy rates and limited to no future supply.

OVERVIEW

CBRE Capital Markets, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in Premier Place (the “property”). The property consists of a two-story class-A low rise office building totaling 47,732 square feet on 2.81 acres of land. The Building has been institutionally owned and managed since 2021. It is currently 97.5% leased to a highly diversified group of national, local, and government tenants with the largest tenant having the longest lease term. With institutional-grade credit tenants, rents well below market, and a WALT of 4.25 years, this is a core-plus investment opportunity with value-add traits. Positioned at 535 Lipoa Parkway within the prestigious Maui Research & Technology Park, the property benefits from a well-established presence in a dynamic business environment surrounded by a diverse mix of local and national companies, healthcare providers, and government agencies. Constructed in 1991, Premier Place is a two-story, multi-tenant corporate style office building situated on a professionally landscaped parcel that offers generous on-site parking and contemporary architectural design. The building has consistently demonstrated strong historical occupancy and currently enjoys stable in-place tenancy, providing secure cash flow and operational stability. With upside potential through mark-to-market rents, Premier Place offers investors a unique opportunity to capitalize on long-term value in one of Hawaii’s most supply-constrained office markets, with close adjacency to the luxury Wailea market. The combination of location, tenant mix, and market fundamentals position Premier Place as a best-in-class investment opportunity in Maui.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Premier Place

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

A

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

153

LAND DETAILS

LAND ACRES

2.81 AC

LAND SF

122,404 SF

ZONING

MRTP, Maui

APN/PARCEL ID

2-2-2-024-007-0000

ASK ABOUT THIS PROPERTY

Matthew BittickCBRE, Inc.More Info
808-521-1200

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Matthew BittickCBRE, Inc.More Info
808-521-1200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.