17 Dec REDICO TRANSFERS LEASING OF 677 ALA MOANA TO STANDARD COMMERCIAL LLC
Pacific Business News
The owner of a landmark office building called 677 Ala Moana in Honolulu has chosen the newly formed commercial real estate firm Standard Commercial LLC to handle leasing of the property.
Standard Commercial is headed up by veteran Hawaii commercial real estate executives Linda Gee and Ian Clagstone, who left Honolulu-basedPM Realty Group, which previously handled the leasing for 677 Ala Moana.
Redico, a Michigan real estate development and investment company that owns the building, formerly known as the Gold Bond Building, also released renderings for an upcoming $14 million renovation of the building.
“Creating an updated look for a building designed in the sixties was no easy task,” Redico President and CEO Dale Watchowski said in a statement. “We wanted to incorporate elements of Hawaii as well as aesthetics that assimilated to Kamehameha Schools’ redevelopment plans for Kakaako.”
Plans for the 12-story, 272,191-square-foot mixed-use building include an eight-floor corner glass facade, a new light-filled main floor lobby, reconfiguring the main entrances to the Ewa and Diamond Head sides of the building, extensive upgrades to other common areas, seating for the interior courtyard, overall aesthetics and appeal of the property and creating a pedestrian-friendly area.
The renovation is scheduled to start in the first quarter of 2014 and be completed in one year.
Swinerton Builders is the general contractor for the project with design services done by MGA Architecture, Redico said.
Kamehameha Schools holds the ground lease for the building.
Duane Shimogawa covers energy, real estate and economic development for Pacific Business News.