PM Realty was selected for the property management assignment and Coldwell Banker Commercial Pacific Properties for the leasing assignment. The property management assignment had been with Honolulu-based Chaney Brooks & Co. for the past decade; the leasing assignment had been with CB Richard Ellis for the past several years.

CBC Pacific Properties president Ron Teves tells GlobeSt.com the assignment gives his company its first presence in Downtown Honolulu, and that he plans to make the best of it. While occupancy is right around the market average of 86%, Teves says the complex has the attributes to "significantly beat" the competition. "Our philosophy is to take a limited number of projects to ensure we focus on helping them outperform the market," says Teves.

Pacific Guardian Center includes the twin reflecting Mauka (Mountain) and Makai (Ocean) Towers at 737 and 733 Bishop as well as the historic Dillingham Transportation Building. Teves declined to disclose the name of the owner at the client's request; other brokers familiar with the property say the owner is Meiji Life Insurance Co., one of Japan's largest life insurers and a part of the Mitsubishi Group.