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33500310
33500311

707 Richards St, Honolulu, HI 96813

KB
HI 50512
Colliers - Honolulu, Hawaii
Colliers - Honolulu, Hawaii
Colliers - Honolulu, Hawaii
Listed by Colliers - Honolulu, Hawaii
Unpriced
2 days on market
Updated 1 day ago

707 Richards

Details
APN (1) 2-1-26-12
Property Type Office
Sub Type Traditional Office, Executive Office
Square Footage 101,523
Net Rentable (SqFt) 101,523
Units 269
Tenancy Multi
Lease Type NNN
Class A
Year Built 1988
Acreage 0.880
Zoning B-2
Investment Type Value Add
Ownership Leasehold

707 Richards St, Honolulu, HI 96813

Marketing description

Located in the heart of Honolulu's Central Business District, 707 Richards Street presents a compelling investment opportunity in Oahu's most established urban corridor. Currently operating as a multi-tenant office property with a diversified tenant roster, the asset offers investors healthy cash flow coupled with meaningful near-term upside as downtown Honolulu's office market continues to tighten and outpace most comparable mainland markets.

Positioned within a tightening office market, and with a history of above market occupancy through 2025, the property stands to benefit from improving market fundamentals and a shrinking competitive inventory resulting from ongoing office-to-residential and mixed-use conversions throughout the urban core. In addition, the property features a best-in-market parking ratio — a significant competitive advantage in Honolulu's CBD where convenient parking options have become increasingly scarce and highly sought after due to return to office mandates.

The offering is particularly attractive to local and regional investors familiar with the unique dynamics of Honolulu's office and leasehold markets. With substantial remaining ground lease term and a negotiated extension readily available for a buyer to execute, the asset provides long-term operational flexibility and investment security while positioning ownership to capitalize on future market growth.

Investment highlights

  • Premier CBD Location: Located in the heart of Honolulu's CBD, 707 Richards Street offers convenient access to government, financial, legal and downtown business amenities.
  • Favorable Market Fundamentals: Honolulu's office market continues its positive momentum, with declining vacancy, tightening supply and steady tenant demand.
  • Shrinking Competitive Inventory: Ongoing office-to-residential and mixed-use conversions are reducing downtown office supply and strengthening the position of remaining office assets.
  • Best-in-Market Parking Advantage: The property offers more than double the average CBD parking ratio which serves as a key competitive advantage.
  • Stable Multi-Tenant Income Stream with Upside Potential: A diversified tenant roster provides in-place income with opportunities to increase occupancy, grow rents and reposition suites over time.
  • Long-Term Leasehold Security: A significant remaining ground lease term and available extension offer stability and flexibility for investors.
  • Positioned to Benefit from Downtown Revitalization: Continued redevelopment and public/private investments are enhancing the CBD's appeal as a more dynamic live-work-play district.
  • Macro Office Trends: Leading indicators such as demand trends (from RTO) and institutional capital resurgence into office are placing office buildings top of mind with higher yield upside than most asset classes.

Listing Contacts

KB
HI 50512
Colliers - Honolulu, Hawaii
Colliers - Honolulu, Hawaii
Colliers - Honolulu, Hawaii
Listed by Colliers - Honolulu, Hawaii

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