Group of tennants seeks to intervene in suit against HRPT Properties Sep 30, 2009
A coalition representing businesses leasing industrial land on O'ahu from HRPT Properties Trust is seeking to intervene in a lawsuit HRPT filed in federal court last month against the state over a recently enacted law affecting HRPT leases. The group, Citizens for Fair Valuation, yesterday filed a motion to join the state in defending the suit that challenges the law's constitutionality. (Honolulu Advertiser)
Landowner sues state over rent law Aug 16, 2009
The largest private owner of industrial land in Hawai'i, HRPT Properties Trust, yesterday sued the state, alleging a one-month-old law intended to give its tenants more leverage in renegotiating rents is unconstitutional. In the suit filed in federal court in Honolulu, HRPT said the law interferes with its rental contracts in violation of the U.S. Constitution, and if enforced would allow tenants to pay less rent than they do currently. (Honolulu Advertiser)
HRPT sues over new lease-rent law Aug 15, 2009
HRPT Properties Trust became the largest owner of industrial land in the Islands after purchasing 220 acres in Mapunapuna, Sand Island and Kalihi from the Estate of Samuel Mills Damon for $480 million in December 2003. HRPT also purchased some 200 acres in Campbell Industrial Park for $115 million from the former Estate of James Campbell in mid-2005. (Pacific Business News, HI)
Major Hawaii landowner HRPT sues state over new law on 'fair' rents Aug 15, 2009
The largest private owner of industrial land in Hawai'i, HRPT Properties Trust, today sued the state alleging that a one-month-old law intended to give its tenants more leverage renegotiating rents is unconstitutional. The Massachusetts-based company said it filed the suit in federal court in Honolulu. (Honolulu Advertiser)
Industrial tenants rebelling over rents Aug 13, 2009
HRPT Properties Trust, in a conference call yesterday with investors, said that tenants have been citing the one-month-old law in attempts to avoid paying what the company believes to be market-rate prices. "We're trying to proceed as if business is normal, but it's obviously created a great amount of burden on the company," said Adam Portnoy, HRPT's managing trustee. (Honolulu Advertiser)
Kucera gets new leasing assignments Aug 7, 2009
The three office properties are all owned by HRPT Properties Trust and managed by Reit Management & Research LLC.. The company also started marketing, leasing and handling property management for 460,000 square feet of office properties two weeks ago. (Austin Business Journal, TX)
Lessees get boost in negotiating rent Jul 22, 2009
The bill became law as Act 189, affecting some of the more than 180 businesses that lease land from Massachusetts-based HRPT Properties Trust. However, the extent of the law's impact is questionable because of its somewhat vague language and a June 10, 2010, repeal date. (Honolulu Advertiser)
Local General Growth exec to join HRPT Properties Jun 30, 2009
Jan Yokota, vice president-development for General Growth Properties's Hawaii Region, is leaving the shopping center owner for HRPT Properties Trust where she has been appointed vice president, Pacific Region. Yokota's past experience includes a position as director of capital improvements for the University of Hawai'i and as executive director of the Hawaii Community Development Authority. (Honolulu Advertiser)
Top of the week in business news Jun 27, 2009
Months after a sale to another buyer fell through, downtown Denver s Seventeenth Street Plaza office building has been sold to HRPT Properties Trust. THURSDAY, JUNE 25. (Denver Business Journal, CO)
Tenants get Senate support May 8, 2009
The bill affects the largest private owner of industrial land in the state, Massachusetts-based HRPT Properties Trust, which owns 10 million square feet of land in Mapunapuna and Kalihi Kai with more than 200 tenants from equipment repair firms to distribution companies. The bill's stated intent is to address burdensome or vague provisions in certain urban-area industrial property leases in an effort to help stabilize Hawai'i's economy, given that businesses located in the urban core help keep... (Honolulu Advertiser)
HRPT agrees to share comparable tenant rents Apr 4, 2009
HRPT Properties Trust became Hawaii s largest owner of industrial land after buying 220 acres in Mapunapuna, Sand Island and Kalihi from the Estate of Samuel Mills Damon for $480 million in December 2003, and approximately 200 acres in Campbell Industrial Park for $115 million from the former Estate of James Campbell in mid-2005. This article is for Paid Print Subscribers ONLY.. (Pacific Business News, HI)
