by Dan Peoples | Nov 20, 2012

September 20, 2012

NEWS FROM:  Parallel Capital Partners, Inc.

FOR INFORMATION: Matt Root, Parallel Capital Partners, 858-882-9506
   Jim Ingebritsen, Parallel Capital Partners, 858-882-9504
   Dan Peoples, Peoples & Company, 858-552-1456

Parallel Capital Partners Renews and Expands JTB Hawaii, Inc. in Bank of Hawaii Waikiki Center

Honolulu, Hawaii.  Parallel Capital Partners, Inc. reports that JTB Hawaii, Inc. has renewed and expanded for 9,493 square feet of office space on the 8th floor of the Bank of Hawaii Waikiki Center in downtown Honolulu, Hawaii. The lease term is for 64 months.

Built in 1980 and renovated in 1989, the Bank of Hawaii Waikiki Center comprises 9 stories of offices and below-ground garage parking located in the heart of the Waikiki Beach resort and urban retail district.

JTB Hawaii, Inc. was represented in the negotiations by Colliers International. Parallel Capital Partners, Inc. was represented by Bishop Street Commercial.

JTB Hawaii, Inc. was founded in 1964, is a subsidiary of the JTB Group, the leading travel agency in Japan, which makes a variety of tour arrangements for its clientele ranging from sightseeing, travel, activities and dining. JTB also leases 17,800 square feet on the 9th floor of the building.

Parallel Capital Partners, Inc. (parallelcapitalpartners.com) is a real estate investment and operating firm that focuses on office, industrial and retail property acquisition in markets in the western U.S. and Hawaii. The company identifies opportunities where assets are undervalued and uses restructuring, capital improvements and superior leasing and management to turn value-added opportunities into core properties.