OAHU, Hawaii--(BUSINESS WIRE)--Robertson Properties Group hosted residents, business owners and community leaders at a ceremonial blessing for its Pearl City Gateway shopping center to mark the completion of construction. With the recent openings of Petco, Babies “R” Us and David’s Bridal, ongoing tenant build-outs and final leasing, the company is on track to celebrate the grand opening of the 150,000-square-foot shopping center in early 2010.
“Pearl City Gateway fills a need in the community for a conveniently located, inviting retail center that offers quality national brands. Even in the current challenging retail environment, retailers that have opened have enjoyed a great reception,” said Jeff Koblentz, COO, Robertson Properties Group. “It is a testament to the property and the location that we were able to bring the first and only Babies “R” Us and David’s Bridal to Hawaii and only the second Petco, well-established, recognized brands that are a great addition to the community.”
“We also are finding significant interest in leasing the last remaining spaces at Pearl City Gateway. We recently signed a lease with Roger Dunn and we are in discussions with other retailers who are looking for space in the Hawaii market,” added Mark Weinstock, Vice President and Senior Counsel of Robertson Properties Group.
Roger Dunn is currently building out the interior improvements for its store which will open next to Petco. Previously announced tenants, CVS Pharmacy (formerly Longs Drugs) has completed its shell building and is focusing on space planning for its new 22,000-square-foot store while McDonald’s is preparing construction plans for its freestanding building at the center.
The traditional blessing was held to commemorate the completion of construction for the $75 million center set on 13.5 acres on the northeast corner of Kuala Road and Acacia Street in Pearl City Oahu, just minutes from Pearl Harbor. This marks another significant milestone in the process to develop the site which began when Robertson Properties Group acquired the former naval property in December, 2005.
Robertson Properties Group also acknowledged and thanked the work of its architect and engineering team Architects Hawaii and civil engineers Austin Tsutsumi and Associates along with Swinerton Builders, which served as general contractor. Pearl City Gateway’s leasing broker Colliers Monroe Friedlander also was recognized. They continue to represent Robertson Properties Group in the lease up of the three shop buildings and the last two outlying building pads; one that can accommodate a 25,000-square-foot building and the other for a 6,000-square-foot sit down restaurant. Construction financing for the Pearl City Gateway project was provided by Wells Fargo Bank.
“Robertson Properties Group has a growing portfolio of property in Hawaii. In addition to Pearl City Gateway, we developed the Center of Waikiki on Kalakaua Avenue and also have 14 acres in Aiea known as the Kam Drive-in Site, a property that we are currently master planning for a mixed-use, transit-oriented development,” noted John Manavian, Vice President, Real Estate, Robertson Properties Group.
Robertson Properties Group is part of a portfolio of affiliated companies that includes two California based theater chains, Pacific Theatres and ArcLight Cinemas, and until early 2008, included Consolidated Theatres. The company’s history in Hawaii dates back to 1959 when it acquired Consolidated Theatres, the same year Hawaii achieved statehood.
Robertson Properties Group is a privately owned real estate company specializing in the development and redevelopment of retail and mixed-use properties. The firm’s solid track record and experience, access to capital and strong financing relationships allows it to be flexible in deal structures and provides the ability to close deals quickly. Headquartered in Los Angeles, Robertson Properties Group owns and manages more than five million square feet of commercial and retail space. With the Pearl City Gateway project, Robertson Properties Group has established a permanent regional office in Hawaii.