Lender iStar Financial has renamed a financially troubled industrial condominium project in Kapolei and is offering the warehouse space for lease.

The lender foreclosed on the 220,000-square-foot Kapolei Spectrum II project in Kapolei Business Park, and has renamed the warehouse complex with 93 units Kapolei Trade Center.

Leasing is being handled by Colliers Monroe Friedlander.

The project was developed by Low Archibald Real Estate Group of California, but units remained mostly empty and unsold since completion in late 2007.

SHIPPING SHACK OPENS WAIKīKī BRANCH

The Shipping Shack recently opened a second O'ahu branch, in the Ilikai Hotel.

The local shipping services store begun by former FedEx delivery driver William Donohoe opened its first store in 2005 in Kaimukī. Other locations are planned in Māpunapuna and Ko Olina Resort & Marina.

Donohoe, who had worked for FedEx for 19 years, started the Shipping Shack with a grant from the Hawaii Center For Entrepreneurship.

ISLAND INSURANCE OFFERS EPLI COVERAGE

Island Insurance said it is the first in the state to offer employment practices liability insurance for small- to mid-sized businesses as part of its general liability and commercial package policies.

Typically not covered under an insurance company's general liability coverage, EPLI coverage protects employers for liability damages and defense costs due to employee-related claims such as wrongful termination, discrimination, harassment and other employee-related allegations.

The coverage is tailored for small- to mid-sized businesses with 50 or fewer employees.

IMPORTED PORTLAND CEMENT DOWN 13%

Hawai'i imports of finished Portland cement, an indicator of construction activity, fell 13 percent in November, but was less than the average 14.9 percent decline nationally during the month.

There were 22,261 metric tons shipped during November for Hawai'i.