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.

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