Aloha Petroleum Takes on Master Developer Role
HONOLULU — Aloha Petroleum broke ground on its new Paiea Street complex near the Honolulu International airport on Feb. 7. The site will feature an Aloha Island Mart, a Shell gas station, an International House of Pancakes (IHOP) and a drive-thru Dunkin' Donuts.
All four entities will be freestanding on the 58,446-square-foot property, the company said.
"Paiea Street provided a unique opportunity to play a master developer role in optimizing the best use of real estate," stated Aloha Petroleum President and CEO Richard Parry. "This property represents a new vision for Aloha in that four dynamic retailers will come together in one retail development, offering services that are needed in the airport area."
The Shell station will have three fuel dispensers under a 24-foot-by-72-foot canopy, while the Aloha Island Mart will occupy 2,500 square feet.
The complex will mark Aloha Petroleum's first development with IHOP and its first drive-thru Dunkin' Donuts in Hawaii under its development agreement with Dunkin' Donuts. The IHOP restaurant will have 4,000 square feet under one roof. It will be the sixth IHOP in Hawaii and the fourth on Oahu.
"When we first met with the landlord, The Loyalty Development Company Ltd., our focus was on one parcel with our usual offering of fuel and convenience store," Parry said. "The agreement with Dunkin' Donuts was moving down a parallel path to our lease on Paiea Street; thus, the landlord offered Aloha three parcels for development versus one."
Both the Aloha Island Mart and the Shell station are expected to begin operations around June, with IHOP and the Dunkin' Donuts opening at a later date in 2017.
Aloha Petroleum has committed to build 15 Dunkin' Donuts locations within an eight-year development agreement representing locations on Oahu, Maui, Hawaii, and possibly Kauai. When the Paiea Street location opens, the Dunkin' brand will enter its 41st state.