PUHI—Grove Farm Properties, Inc., a subsidiary of Grove Farm Company, Inc., has closed on a sale of 33 industrial lots in Puhi to Kamehameha Schools. Kamehameha, the state’s largest private landowner, reportedly paid more than $4 million for the parcel.
PUHI—Grove Farm Properties, Inc., a subsidiary of Grove Farm Company, Inc.,
has closed on a sale of 33 industrial lots in Puhi to Kamehameha
Schools.
Kamehameha, the state’s largest private landowner, reportedly paid
more than $4 million for the parcel.
The 33 lots, comprising about 15.5
acres, are part of Puhi Industrial park, which was developed by Grove Farm
Properties, Inc. in 1989.
The lots are improved with roads, gutters,
power, water and lighting, and are available for immediate development.
Puhi Industrial Park is outside of Lihue, with close proximity to both Lihue
Airport and Nawiliwili Harbor.
Kamehameha Schools currently owns
approximately 11,000 acres on Kaua’i, mostly in Hanalei. About 2,000 acres of
Kamehameha Schools’ Kaua’i land are zoned for agricultural use – primarily taro
cultivation – and the remaining 9,000 acres are zoned for conservation.
In
addition to its real estate holdings, Kamehameha operates three preschools and
two educational support offices on Kaua’i, employing 12 residents on the
island.
“Grove Farm welcomes this expression of confidence in the future of
Kaua’i and looks forward to a long and rewarding relationship with Kamehameha
Schools as a neighbor,” said Hugh W. Klebahn, chairman and chief executive
officer of Grove Farm.
“This purchase reinforces Kamehameha Schools’
commitment to Hawaii real estate as a long term investment,” said Neil Hannahs,
director of Kamehameha’s Region 11, which includes Kaua’i real estate.
“We
have a great deal of confidence in Kaua’i and its people, and this move into
Puhi shows it.”
Grove Farm Properties is the developer of the Lihu’e-Puhi
master planned community, with residential, commercial, industrial, golf
course, public and open space component.
