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Hawaiʻi Community Development Authority extends Zimmer lease at 610 Ward Avenue, declines broker commission
Summary
The Hawaiʻi Community Development Authority voted 8-0 on March 5 to extend a lease with Zimmer US Inc. at 610 Ward Avenue through June 30, 2026, approve a 3% rent increase and retain a termination clause shortened to 90 days; the board declined staff to pay a broker commission requested by the lessee.
The Hawaiʻi Community Development Authority on March 5 authorized the executive director to amend a lease with Zimmer US, Incorporated for retail space at 610 Ward Avenue in Honolulu, extending the term one year to June 30, 2026, and approving a 3% rent increase.
The lease amendment retains a special termination provision to allow HCDA to end the lease when the parcel is ready for development; staff proposed shortening the current six-month notice to 90 days to preserve development flexibility. "This is a fairly straightforward request," said Lindsey Doy, CASET manager, adding the 3%…
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