Aloha Petroleum Scores Award for Retail Development
HONOLULU — Aloha Petroleum Ltd. received a Kukulu Hale Award from commercial real estate development association NAIOP Hawaii for its transformation of former warehouses into a new retail development.
The $6.2-million project, which is located near the Daniel K. Inouye International Airport, earned the top award for Commercial New Projects Under 40,000 Square Feet.
NAIOP Hawaii's annual Kukulu Hale Awards recognize the achievements of those who make significant contributions to Hawaii's commercial real estate industry, enriching Hawaii's community through their projects, professionalism and civic service.
The Paiea Street site originally housed old warehouses before they were razed to make room for a new commercial development. Once finished, the project included a standalone Shell gas station, an Aloha Island Mart and International House of Pancakes (IHOP) in a shared building and a drive-thru Dunkin' Donuts restaurant.
"The Paiea Street development represents a new vision for Aloha, one in which we can take on a master developer role to optimize the use of real estate," said Aloha Petroleum President Richard Parry. "So far, that is proving successful, with four dynamic retailers coming together in one retail development, offering needed services in the airport area. This award means a lot to our team and we are extremely proud of our work on this project."
The project was Aloha's first venture into a master development as the developer. The company provided construction for all of the site improvements and now operate the Shell, Aloha Island Mart and Dunkin' Donuts outlets. Union MAK Corporation, the IHOP franchisee for Hawaii, operates the IHOP.
Honolulu-based Aloha Petroleum operates approximately 100 Shell, Aloha, and Mahalo branded gas stations and 50 Aloha Island Marts, four Menehune Food Marts, three Subways and four Dunkin' Donuts restaurants throughout Hawaii. It is the exclusive Dunkin' Donuts franchisee for the state.