Servco wins arbitration on HRPT rent

Servco Pacific won in its arbitration with HRPT Properties Trust over the rent for a 9.6-acre lot in Mapunapuna, Hawaii being used as a car dealership. The court announced that Servco would pay $5.26/square foot for the property, or $2.2 million/year, as opposed to HRPT's demand of $7/square foot with a 4% increase every year for 10 years.