Bob McKnight selling 100 acres across the road from Sunset Beach…
It ain’t summertime in the Quiksilver Int offices these days, at least not after the bankruptcy thing. Almost a billion dollars on the wrong side of the balance sheet will do that.
Who can forget the $320 mill buy of ski brand Rossignol in 2005?
“Joining forces with Rossignol allows us to create the number one outdoor sports lifestyle company in the world,” said Quik CEO Bob McKnight at the time, adding, “We look forward to capitalizing on the tremendous synergies that come from this partnership.”
If capitalising means selling it for less than half of what you paid a few years later, it was a roaring success.
Anyway, maybe it’s related, maybe not, but McKnight has just listed his (and according to this report Fast Eddie Rothman’s) 100-acre spread across the road from Sunset Beach.
According to bizjournals.com,
“Bob’s Paumalu LLC, which is headed by McKnight and Eddie Rothman, founder of Da Hui, has owned the property since 2005, V. Elise Lee, an agent with Hawaii Life Real Estate Brokers, told PBN.
“The ‘Sunset Paumalu’ property may be subdivided or developed with up to four homes that will be surrounded by organic agricultural farms or an equestrian ranch, according to the listing. The parcel comes with two building permits, two water meters, two electric meters and two eco-friendly wastewater systems installed.
“Located at 59-178 D1 Kamehameha Highway, the property has a total assessed value of about $3.6 million, according to tax records.
“Quiksilver, one of the largest outdoor sports lifestyle companies in the world, which includes such brands as Roxy and DC, recently filed for Chapter 11 bankruptcy.
“The California-based company said last month that it was closing 27 stores.”
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Monsanto should snatch that up and start a seed farm.
When do we hear if Quik is re-upping for the 2016 tour??
Leave it to Quik to ask $15M for a $3.6M property.
Here in the states appraisal value does not equal fair market value.
it certainly comes closer that this.
McKnight and Fast Eddie in Real Estate hand in hand?
Who’d a thunk it.
Organic agriculture eh? Anyone know a good cash crop that loves the islands?