Watumull Properties Corp. acquires Hawaii Island marketplace
Hawaii-based Watumull Properties Corp. has acquired Niumalu Marketplace in Kailua-Kona for $66 million. According to an announcement from the compa...
Hawaii-based Watumull Properties Corp. has acquired Niumalu Marketplace in Kailua-Kona for $66 million. According to an announcement from the company, the 205,000-square-foot shopping center, which is anchored by Safeway, sits on 20 acres of fee simple land. JD Watumull, president of Watumull Properties Corp., told Pacific Business News in an email the sale closed Tuesday, March 14, and was financed through a local bank. The property was "purchased from a Mainland group at what we believe to be less than replacement cost," he said.