A firm based in Hawaii, Watumull Properties Corp is the purchaser of the Orchards Center at 10401 NE Fourth Plain Blvd. One very clear trend in commercial real estate within Clark County, and across the country during the past year is that investors and management firms like Watumull are actively considering acquisitions. Many property owners have come through the last six years having reached a point where they are ready to hand off to a buyer with new energy, vision and capital.
This property features 36,000 square feet of retail space, 57,000 square feet of office space and a 125-unit mini storage facility on eight acres. The tenants in the property include YMCA and EOCF of Clark County and various other professional offices and retail businesses. There is a fair amount of retail vacancy , and some deferred maintenance that will provide challenges, but also plenty of opportunity for Watumull to provide tenant improvements and attract new tenants to increase their revenues.
Watumull is very experienced in this process as the family fortune started in retail, largely selling Hawaiian fabric and Island fashions. Today, the entirely family-owned Watumull Properties continues to quietly invest in Hawaii property, but the company has also looked farther afield, specializing in Portland where the family owns more than 2 million square feet of retail and industrial space.
Welcome to Clark County Watumull.
