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Pegasus Group/Central Self-Storage Acquires Castle & Cook Self-Storage in Mililani, HI, for $14.5M

Pegasus Group, a real estate investment and management company that owns and operates 48 self-storage facilities in 11 states under the Central Self-Storage brand, has acquired Castle & Cook Self-Storage in Mililani, Hawaii, in Central Oahu for $14.5 million. The property on Lehiwa Drive was owned by Castle & Cooke Hawaii, a group of subsidiaries under real estate development and investment firm Castle & Cooke Inc.

December 30, 2015

1 Min Read
Pegasus Group/Central Self-Storage Acquires Castle & Cook Self-Storage in Mililani, HI, for $14.5M

Pegasus Group, a real estate investment and management company that owns and operates 48 self-storage facilities in 11 states under the Central Self-Storage brand, has acquired Castle & Cook Self-Storage in Mililani, Hawaii, in Central Oahu for $14.5 million. The property on Lehiwa Drive was owned by Castle & Cooke Hawaii, a group of subsidiaries under real estate development and investment firm Castle & Cooke Inc.

Pegasus acquired the property under PG Cactus Mililani I LLC, according to the source. The asset is the company’s second location in Hawaii.

Castle & Cooke is privately owned by Los Angeles billionaire David Murdock. The firm’s commercial-property subsidiaries in Hawaii include the Dole Cannery and Dole Plantation retail centers, Mililani Tech Park and an aviation operation in Honolulu. Murdock, 92, is also chairman and CEO of Dole Food Co.

Based in Walnut Creek, Calif., and founded in 1988, Pegasus specializes in self-storage investments. Its portfolio is primarily comprised of facilities operated and managed under the Central Self-Storage brand name.

Sources:

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