Investment company buys industrial land in Kona
Ula Kapa Moe LLC, a local real estate investment company led by Duane and Robert Kurisu, have announced the purchase of a 54-property industrial area in Kailua-Kona from Liliʻuokalani Trust.
Under Ula Kapa Moe’s ownership, the area, which has long served as a cornerstone of industrial activity on Hawaii Island, will remain a critical hub for local businesses, according to a press release.
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The purchase price was not provided in the press release.
“Our goal is to support local businesses, provide them more certainty as they plan for the future, and create an environment that allows them to thrive,” Duane Kurisu, principal of Ula Kapa Moe, said in the press release. “We believe this will strengthen our local economy and pave the way for future generations in Kona and on Hawaii Island.”
Ula Kapa Moe does not plan to redevelop the property and is committed to maintaining it as a vital mixed-use industrial hub for Kona. The current zoning regulations will continue to support mixed-use business and industrial activities.
According to the press release, Ula Kapa Moe plans to offer various existing land leaseholders the ability to purchase the properties they currently lease. This will provide businesses with the opportunity to reinvest in their operations, people, properties and the local economy. Over the past several months, Ula Kapa Moe has engaged with leaseholders to gather feedback and ensure a smooth transition.
“Ula Kapa Moe LLC is a local company that shares our commitment to supporting the local community,” said Ellise Morimoto, spokesperson for the Liliʻuokalani Trust. “We are confident that they will responsibly steward this land for the benefit of the community.”
