The two-tower downtown office complex last sold for $200 million in 2007.
The two-tower downtown office complex last sold for $200 million in 2007.
The Landmark Corporate Center lost a major tenant last year.
The financial services firm is relocating most of its operations at 1670 Broadway to Frisco, Texas.
The two buildings span 770,000 square feet and are just 18% leased.
The firm paid $291 million for the 22-story tower in 2022. It took out a $190 million loan.
The 17 buildings sold for 47% less than they fetched in 2018.
An out-of-state investor bought City Center’s 1.28 million square feet of office space.
“I feel like the worst is definitely behind us, but it’s going to be a long recovery,” one broker said.
But what about the folks in Honolulu?
Failed attempts to land a grocer. A lender poised to take ownership. Regal’s impending big decision. And a vision to unify the mall with two adjacent parking lots.
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