By Duane Shimogawa, Reporter- Pacific Business News
The Redmont Group has big plans for Kakaako.
The Honolulu commercial real estate development firm has secured its long-term future there by buying property for its headquarters.
The firm, which has ties to Birmingham, Alabama, and Auburn University, where some of its top executives used to live and attend school, bought the leasehold interest at 814 Ilaniwai St. for $190,000 from Honolulu-based Shopping Services of Hawaii Inc.
The two-story 6,000-square-foot building sits on a 5,000-square-foot parcel owned by Honolulu-based 814 Ilaniwai LLC, which lists Kaye Kawahara and Carolyn Shiraki tenancy by entirety as its managing member.
The property has a total assessed value of about $1 million, property records show.
Phillip Hasha, principal and chief operating officer of Redmont Group, told PBN that the three-year-old company, which has 10 employees, eventually will spruce up its new headquarters.
Before moving to Kakaako on April 1, its headquarters was located in Downtown Honolulu at the Harbor Square mixed-use tower.
The founders of Redmont Group — Hasha, Ryan Takaki and Brad Wardlaw — all attended the Auburn University real estate developers program, where they met.
Led by Hasha; Wardlow, president of the firm’s architecture arm; and Thomas Rubel, who heads up its construction side, Redmont Group focuses on four areas: design, build, manage and invest.
“It’s a privilege to live in Hawaii and we know how serious it is to develop in Hawaii,” Rubel said. “Everything we do is looking through the lens of how we are changing Hawaii.”
The firm recently sold an apartment complex in Birmingham and plans to use the proceeds to invest in Hawaii and elsewhere.
“We are continuing to build relationships,” Hasha told PBN.
The boutique firm also is focusing on the airport area.
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Duane Shimogawa covers energy, real estate and economic development for Pacific Business News.