707 Richards

Investment Overview

This impressive property features a substantial 101,523 square foot building in downtown Honolulu. Built in 1988, the property offers a solid foundation for further development or immediate use. Zoned B-2, it presents versatile possibilities to cater to a range of business needs. Boasting a strategic location in the heart of Honolulu, this property is positioned to attract tenants seeking a prime business address. With its substantial size, multiple units, and favorable zoning, this property stands as an enticing investment prospect for those seeking a thriving commercial real estate opportunity.

Investment Highlights

• Premier CBD Location: Located in the heart of Honolulu’s CBD, 707 Richards Street offers convenient access to government, financial, legal and downtown business amenities.
• Favorable Market Fundamentals: Honolulu’s office market continues its positive momentum, with declining vacancy, tightening supply and steady tenant demand.
• Shrinking Competitive Inventory: Ongoing office-to-residential and mixed-use conversions are reducing downtown office supply and strengthening the position of remaining office assets.
• Best-in-Market Parking Advantage: The property offers more than double the average CBD parking ratio which serves as a key
• competitive advantage.
• Stable Multi-Tenant Income Stream with Upside Potential: A diversified tenant roster provides in-place income with opportunities
• to increase occupancy, grow rents and reposition suites over time.
• Long-Term Leasehold Security: A significant remaining ground lease term and available extension offer stability and flexibility for investors.
• Positioned to Benefit from Downtown Revitalization: Continued redevelopment and public/private investments are enhancing the
• CBD’s appeal as a more dynamic live-work-play district.
• Macro Office Trends: Leading indicators such as demand trends (from RTO) and institutional capital resurgence into office are placing office buildings top of mind with higher yield upside than most asset classes.