Honolulu Advertiser 2/06/07
Advertiser Staff Writer

An affiliate of Beverly Hills, Calif.-based real estate firm 3D Investments has bought the Waikiki Trade Center, one of Waikïkï's largest office high-rises.

The company paid about $30 million for the 24-story building at 2255 Kühiö Ave.

The purchase did not include the underlying land, which is owned by Queen Emma Foundation and leased to the building owner for roughly another 40 years.

The seller was a Japanese investor doing business as Waikiki Trade Center Associates, which bought the building last April for $8 million, according to Tom Kenney, an agent with Chaney, Brooks & Co. who helped represent the seller.

Waikiki Trade Center was built in 1980 by Jack Myers and Bruce Stark for $18 million, and sold a year later for $40 million. Another buyer in 1987 paid $45 million for the leasehold property.