A California-based real estate investment trust has contracted to buy Wai�anae Mall in a deal that would give the West O�ahu neighborhood shopping center its second owner in five years if the deal closes.

TNP Strategic Retail Trust Inc. said it has agreed to buy the 170,275-square-foot mall anchored by Longs Drugs for about $25.7 million, including the assumption of debt.
The deal comes five years after an affiliate of the Daneshgar family of Beverly Hills, Calif., bought the property for $14 million. The Daneshgar firm had listed the mall for sale at about $30 million.
TNP is a public company formed in August by Irvine, Calif.-based Thompson National Properties LLC to invest in retail property primarily in the Western United States. Thompson National was formed in early 2008 and has amassed a commercial real estate portfolio of 127 properties with about 17.2 million square feet of leasable space in 31 states.