Monster Walgreens store on Kapiolani Boulevard sells for a near- - Hawaii News Now - KGMB and KHNL

Monster Walgreens store on Kapiolani Boulevard sells for a near-record price

(Image: Ryan Ozawa/Facebook) (Image: Ryan Ozawa/Facebook)
HONOLULU (HawaiiNewsNow) -

The Walgreens store on Kapiolani Boulevard has sold for a whopping $42.3 million.

It's one of the highest sales prices for a Walgreens store in the company's history.

Salem Partners has sold the store to a Korean investment firm based in Los Angeles. 

Salem Partners plans to redevelop 1500 Kapiolani Blvd., a parcel adjacent to Walgreens.

The 36,000-foot freestanding drug store will remain a Walgreens (and is under a long-term lease).

Salem is also behind a project that will bring back the Mandarin Oriental Hotel to Honolulu.

The 36-story, mixed-use tower slated for Kapiolani Boulevard will have gardens and public plazas.

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