Cushman & Wakefield ChaneyBrooks’ Steve Sombrero and Ryan Sakaguchi represented the seller, Keeaumoku Group Inc. and family. The buyer was JL Ala Moana LLC, a Honolulu-based investment and private equity firm.
The 21,303 square-foot retail center, which was bought for $15,325,000, lost its largest tenant in the Like Like Drive Inn after the owners of the much-loved local restaurant decided to close following Gov. David Ige’s extension of emergency lockdown orders back in April of 2020, according to previous reporting by Pacific Business News.
“It has been an absolute joy to have continued our family’s legacy in operating the plaza and restaurant for so many years,” said Julie Tateyama and Patti Okuhara, daughters of Roy and Dora Hayashi, the original owners of Like Like Drive Inn, in a statement. “We are so appreciative to all who have been with Like Like Plaza from the beginning and have become a part of our family along the way.
“While we are physically bidding farewell to Like Like Plaza, the Plaza and Like Like Drive Inn will forever remain a part of our family,” they said. “As we start this next chapter in our lives, we are extremely excited for what’s ahead.”
“It has been an honor to represent Keeaumoku Group Inc. and its founding family in this transaction” said Ryan Sakaguchi, senior vice president of Cushman & Wakefield ChaneyBrooks, in a statement. “There has been a tremendous amount of interest in this property from investors and developers on both sides of the Pacific. The interest received on this amazing property reflects the strong demand for quality investments in the Islands.”