Commercial Asset Advisors

Press Release: New ownership for Pacific Park Plaza; Commercial Asset Advisors awarded project for lease

(HONOLULU – July 17, 2012) Pacific Park Plaza, located at 711 Kapiolani Boulevard, the “top” of the Kapiolani commercial corridor, has a new owner, Highbrook Investment Management, LP.  As part of their transition, Highbrook has taken the time to fully understand Honolulu’s unique business environment and market nuances to ensure the project is a success; where existing tenants are happy and new tenants have a positive experience and feel welcomed.  “We are committed to Hawaii and specifically to our tenants at Pacific Park Plaza.  We are working to make positive changes to the building and create an environment where tenants can be successful and thrive,” said Will Milam, Vice President at Highbrook.  Pacific Park Plaza is a Class “A” office building with many well-known national and local tenants such as GEICO, Kaiser Permanente, and Hawaiiana Management.

 

Commercial Asset Advisors, LLC, a Hawai’i commercial real estate leasing and investment sales firm comprised of industry veterans Sean Tadaki, David Asakura, and Maria Chan, have been retained by Highbrook to handle leasing for Pacific Park Plaza.  “The CAA team understands the market and is focused on serving office users’ needs.  They have the drive, skill, and professional contacts to make a positive impact on our project,” added Milam.

 

Commercial Asset Advisor’s managing partner, Sean Tadaki, said, “With much of the office product on the Kapiolani corridor aging, Pacific Park Plaza stands out from its competitors as one of the newer and nicest office buildings in that market.  The new ownership is incredibly proactive and has some great initiatives to refresh and reposition the property.  We are excited to have the opportunity to represent Highbrook and work with existing tenants, as well as helping new tenants move in to this prime location.”

 

Kapiolani Corridor

The office market in the Kapiolani Corridor has remained stronger than the neighboring downtown office market.  With three major thoroughfares, King Street, Kapiolani Boulevard and Ala Moana Boulevard and easy access to the H-1 freeway, it is a convenient location for businesses and customers alike.  There is also immediate access to many retailers and other office services within the corridor.

 

About Highbrook Investment Management, LP

HighBrook is a New York-based independent value-oriented investment firm focused on investing in private real estate opportunities across all sectors and geographies.  HighBrook was founded by Brian Carr and the senior partners of High Rise Capital Management, L.P., David P. O’Connor and Charles Fitzgerald.

 

Press Release: Commercial Asset Advisors awarded Bank of Hawaii’s Kapolei portfolio for lease

(HONOLULU – JULY 16, 2012) Commercial Asset Advisors, a Hawai’i commercial real estate leasing and investment sales firm comprised of industry veterans Sean Tadaki, David Asakura, and Maria Chan, has been retained by Bank of Hawai’i to handle leasing for their Kapolei offices.  This prime office building located in the heart of the Kapolei office district currently has 60,000 square feet of available space.  The property is an exemplary Class “A” office facility with unique features such as redundant power feeds from separate Hawaiian Electric grids, multiple emergency generators that can handle the entire building electrical load, raised floors for ease of voice and data systems installation, and ample parking that other areas of the island simply cannot offer due to space constraints.  Office spaces can be designed to easily accommodate tenants from under 1,000 square feet to over 40,000 square feet.

 

Michael Taylor, Bank of Hawai’i’s Corporate Facilities, Vice President and Real Estate Manager said, “Sean, David and Maria are well respected and highly regarded within the commercial real estate market here in Hawaii. We are very pleased to have the entire team at CAA on board to assist with the leasing efforts at Hale O Kapolei.”

 

“We are excited to have the opportunity to work with Bank of Hawai’i on this assignment.  The office market has some challenges, but with new competitive pricing structures BOH is ready, willing and able to provide an incredible office solution to the market at remarkable pricing”, said Tadaki, who is managing partner at Commercial Asset Advisors.

 

Kapolei Area Description

 

Kapolei, the fastest growing area in the State of Hawaii, has become a major urban center in West Oahu.  Kapolei is a “smart” city, globally connected through state-of-the-art fiber optic and satellite communication networks.  It is the starting point of the planned 20-mile rail transit line that will connect it to downtown Honolulu and beyond.  Businesses in the area benefit from well-established retail, government services, parks, schools, growing numbers of households and easy access to the H-1 Freeway.

 

About Bank of Hawaii

 

Bank of Hawaii is the subsidiary of Bank of Hawaii Corporation, a regional bank holding company.  Bank of Hawaii Corporation, through its subsidiaries, provides a variety of financial services to businesses, consumers and governments in Hawaii, American Samoa and the West Pacific.

 

The company is listed on the New York Stock Exchange as “BOH.”

 

For more information on Bank of Hawaii, please visit the website at www.BOH.com.

StarAdvertiser Article: New physicians can find success in private practice

http://www.staradvertiser.com/businesspremium/20120414_new_physicians_can_find_success_in_private_practice.html

Saturday, April 14, 2012

By Ira Zunin

 

A fourth-year medical student, asked if she planned to go into private practice, responded, “It can’t be done in this day and age.”

 

During my lectures to students from around the country who come to Hawaii for an elective in integrative medicine, I always ask how many plan to strike out on their own once they complete their training. Without exception, to date, no one thought it feasible.

 

Recently, among a group of 10 students from different medical schools, no one even knew of a classmate prepared to take the leap. Burdened with school loans, the overwhelming majority of new physicians simply look for jobs.

 

Years ago, when my wife and I decided to open our own multidisciplinary clinic, she made more than 30 calls before coming home one evening with a confident smile on her face.

 

“I think I found the right guy,” she said.

 

She was right.

 

Sean Tadaki, managing partner of Commercial Asset Advisors, specializes in finding office spaces that suit the unique needs of medical providers and organizations. While he also looks after the real estate needs of some of Hawaii’s largest health care institutions, he is impeccably attentive to solo providers trying to get a start.

 

His first piece of advice was to focus on space in the Kapiolani Boulevard-King Street corridor between Bishop Street and Kalakaua Avenue — the “medical conduit.” This area of town is easily accessible, offers good entry and exit, and has better parking than the central business district, Kaimuki or Waikiki. Pricing for office space in this area is competitive with ample inventory, much of which has ground-floor visibility. Also, unlike the central business district, in which some buildings do not allow medical use, the Kapiolani-King corridor tends to be more accommodating.

 

Over the years, Tadaki has observed several trends that reflect evolving cost pressures. These include smaller exam rooms and larger waiting rooms as some physicians strive to see more patients to make ends meet. Space for administrative functions is shrinking as more businesses outsource billing, bookkeeping and human resources. There is also a trend toward more in-clinic space for procedures and increased use of free-standing outpatient surgical centers where previously much more was done in the hospital. Ample parking remains a must.

 

Oahu has seen very little new development focused on medical use. Hale Pawa‘a at Beretania and Keeaumoku streets is the one exception in recent years. Construction was already well under way when the recession hit. Although the structure was completed, filling the building with tenants has been difficult.

 

There is now a widespread sense in Honolulu that we are beginning to ease out of the recession. The economy still faces substantial challenges, not the least of which is government debt at multiple levels.

 

Unemployment, while easing down, is still high, but the retail market, including the ground floor of medical buildings, is seeing early signs of stabilization. Overall occupancy is slightly positive and pricing has increased marginally in selected markets.

 

The medical office market is still flat to slightly negative with lease rates remaining flat. According to Tadaki, medical office rental markets will not see a dramatic increase over the next 12 to 18 months but there should positive movement in occupancy by the first quarter of 2013, with rental increases to follow.

 

Small businesses are the linchpin of the American economy. While large and publicly traded companies benefit from economies of scale and from capital for branding and development, they are inherently homogenous and therefore sluggish. Smaller businesses have the ability to adapt quickly and address clients’ needs in an individualized and specific manner.

 

The best health care combines efficient processes informed by science and technology together with the ability to treat the patient as a whole person in each encounter. Contrary to the impression of too many graduating medical students, it can be done.

 

Ira Zunin, M.D., M.P.H., M.B.A., is medical director of Manakai o Malama Integrative Healthcare Group and Rehabilitation Center and CEO of Global Advisory Services Inc. Please submit your questions to info@manakaiomalama.com.

Press Release: Commercial Asset Advisors (CAA)

TOP PRODUCER, FORMERLY WITH LARGEST COMMERCIAL REAL ESTATE FIRM IN HAWAII, MERGES WITH TWO INDUSTRY LEADERS TO FORM COMMERCIAL ASSET ADVISORS (CAA)

 

HONOLULU (MARCH 2, 2012)— Sean Tadaki, one of the top producers from Hawaii’s largest commercial real estate firm has resigned and announced today that he has partnered with prominent real estate professionals Maria Chan and David Asakura to form Commercial Asset Advisors (CAA). Based in Honolulu, CAA is a full-service commercial real estate firm, specializing in commercial leasing, investment sales, apartment asset management, asset advisory, tenant representation and property management. The new boutique firm will leverage the deep knowledge, connections and dynamic capabilities of its three partners to provide clients with an elevated and seamless experience like no other in the state of Hawaii.

 

“We learned many years ago that brokerage is a true service industry, we don’t manufacture widgets or produce gadgets, we merely are here to serve our clients, protect their best interests, and garner them positive results through real estate. Understating the true definition of service, the act of helpful activity, we realized that one could not replicate this in volume but only provide quality,” says managing partner Sean Tadaki. “CAA is a boutique firm that will offer our clients the type of responsive and personalized attention and service that they deserve. Our clients will be dealing directly with either David, Maria or myself, ensuring that they will receive the most experienced and knowledgeable direction in all of their real estate transactions.”

 

This venerable “dream team” of founders has deep roots in the community as well as the Hawaii real estate industry. Over the last two decades they have worked on some of the biggest commercial real estate deals in the State, won numerous professional awards and achievements and have been named the top producers in their fields.

 

Each member of the team brings a unique background and breadth of experience, providing clients with a distinct and overarching perspective that bridges a number of distinct industries. The founders take great pride in their personal and professional relationships and community involvement and founded their company based on the principles of accountability, integrity and trust.

 

“We make no false pretense about our industry, we are not rocket scientists nor brain surgeons, we add value to our clients via real estate and create lasting relationships; with the goal of fostering a strong, caring, and vibrant community,” says Tadaki. “Our success is directly related to the success of our clients and we are very excited with this opportunity to help our clients grow their businesses and build new connections in the process.”

 

No matter what service they are providing, the partners at CAA ensure the highest level of professional attention that produces results that lead to long-lasting relationships. Hawaii is a very special place like no other in the world, and it is their personal endeavor to create a strong, caring and vibrant community.

 

 

ABOUT COMMERCIAL ASSET ADVISORS

Commercial Asset Advisors is a full-service commercial real estate firm and is located at the Topa Financial Center, 745 Fort Street, Suite 1420 in Honolulu, Hawaii. For more information on Commercial Asset Advisors, please visit their website at www.caahawaii.com or call (808) 564-3300.

 

 

 

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