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California  + Orange County  + Healthcare  | 

SRS Completes $50M Sale of Single-Tenant Building in Hawaii

Newport Beach-based SRS Real Estate Partners’ National Net Lease Group has announced the $50.3 million leasehold ownership sale of an office and lab property, fully occupied by Clinical Labs of Hawaii (CLH). SRS Senior VP John Redfield represented the seller, iStar, a REIT, as well as the buyer, a private investor. 

The 81,000-square-foot, four-story building was renovated in 2016 and is located in a high growth area, just three miles from Honolulu International Airport. The property is the headquarters of CLH, the largest pathology and laboratory company in Hawaii, with over 50 locations on the Islands. 

Redfield said in a news release, “This was a credit tenant-lease financed zero cash flow transaction. The zero cash flow market has remained very strong in the current economic environment, coupled with the increased demand in the healthcare sector plus limited supply of high-quality real estate in Honolulu made this a very sought-after investment.” 

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SRS National Net Lease GroupJohn Redfield

About Mark Nieto

  • ◦Sale/Acquisition
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