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Wonder what Amazon will use the land for, 14.5 acres is a good chunk of land - and wondering where Servco will move, that lot was always full of new cars. Might be a holding area for Whole Foods goods in the future - or some sort of distribution center. Property was appraised at $70M
Wonder what Amazon will use the land for, 14.5 acres is a good chunk of land - and wondering where Servco will move, that lot was always full of new cars. Might be a holding area for Whole Foods goods in the future - or some sort of distribution center. Property was appraised at $70M
A tech giant has purchased a 14.4-acre property at Sand Island from Servco Pacific Inc.
A Servco spokesman confirmed the company closed the sale of the property with Amazon on Wednesday for an undisclosed amount.
The property that contains Servco’s Vehicle Processing Center and Auto Parts Center is located at 2101 Auiki St.
I heard they paid something ridiculous for it like $125M. Zoning accommodates a 600,000 SF double decker warehouse. The size of 4 Costcos or Walmarts - but ALL warehouse. Will likely contain significant cold storage.
I'm hoping this will bring next day or same day delivery service to Oahu.
Wonder what Amazon will use the land for, 14.5 acres is a good chunk of land - and wondering where Servco will move, that lot was always full of new cars. Might be a holding area for Whole Foods goods in the future - or some sort of distribution center. Property was appraised at $70M
A tech giant has purchased a 14.4-acre property at Sand Island from Servco Pacific Inc.
A Servco spokesman confirmed the company closed the sale of the property with Amazon on Wednesday for an undisclosed amount.
The property that contains Servco’s Vehicle Processing Center and Auto Parts Center is located at 2101 Auiki St.
My guess is whole foods is part of it. Also possibly takeover of wholesaling operations here in hawaii? Why would you need small regional players like d ohtani, y hata, etc etc if amazon can do it cheaper and more efficiently.
It doesn't make sense as an international terminal since containerships can bypass hawaii going to asia.
City records confirmed they paid $125M. That's some serious bread for Servco. I wonder how much of that stays in Hawaii...
Really don't know how much will stay in Hawai'i. If I am correct, Servco's a private corp. Actually, I don't even know what 'staying in Hawai'i' means. I do know that many prudent and successful businesses do not put all their eggs in one basket, i.e. they diversify risk over various lines of business/investment. One tanks
during then year, you have three or four that pick up the slack. What Servco does is anyone's guess.
What the $125M (if confirmed) tells me, is that Honolulu commercial RE is valuable. Even in a pandemic.
My friend works at the Bureau of Conveyances. Once it's filed there it's public record. I'm sure it'll hit the newswire tomorrow if it hasn't already today.
Really don't know how much will stay in Hawai'i. If I am correct, Servco's a private corp. Actually, I don't even know what 'staying in Hawai'i' means. I do know that many prudent and successful businesses do not put all their eggs in one basket, i.e. they diversify risk over various lines of business/investment. One tanks
during then year, you have three or four that pick up the slack. What Servco does is anyone's guess.
What the $125M (if confirmed) tells me, is that Honolulu commercial RE is valuable. Even in a pandemic.
It was more of a rhetorical statement. Servco is a local company as far as I understand; a major windfall for a longstanding local company that plans to invest more in our state is always good for the local economy.
The best part is that Amazon will likely spend another $200-$300M (i.e. many more jobs) building a world-class high-tech warehousing facility here. I can imagine a massive fleet of solar-charged electric vans (all their delivery fleets are going electric over the coming years). They will have enough roof space for a massive PV system with energy storage to power their warehouse and likely enough to charge their delivery trucks too. And I am hopeful they will support local farmers more than other local produce distribution companies that bring almost everything in from overseas.
All and all very exciting stuff and a glimmer of good news in this trainwreck of a mess that has become our state.
My friend works at the Bureau of Conveyances. Once it's filed there it's public record. I'm sure it'll hit the newswire tomorrow if it hasn't already today.
Cool. Guess it hits the RPT tax site way later.
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