Alexander & Baldwin Expands Operations with Kapolei, Hawaii, Industrial Property
01/17/2019
According to company officials, Located in Kapolei Business Park Phase I, the warehouses are built on adjacent parcels totaling approximately 6.45 acres and feature 32-foot clear heights, dock-high loading and ESFR sprinkler systems.
Approximately 75 percent of the space across the buildings will be leased by the former owner, Covan, a national moving company. The buildings also include rooftop photovoltaic systems, which will be used by tenants to help defray their energy costs.
"These are high-quality industrial assets and we're excited to add them to our portfolio. Our focus is on Hawaii and this is just the first step in our effort to reinvest the proceeds from the sale of our Maui farmlands. We will continue to look for other opportunities to invest locally in commercial real estate," said Lance Parker, A&B Chief Real Estate Officer.
On Dec. 20, 2018, A&B completed the $262 million sale of approximately 41,000 acres of agricultural farmland on Mauito Mahi Pono, a farming venture between Pomona Farming, LLC, a California-based agricultural group, and the Public Sector Pension Investment Board (PSP Investments), a long-term investor and one of Canada's largest pension investment managers.
Most Read
-
-
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
Q3 2019
-
Hot Jobs: Growing Industrial Sectors
Q4 2019
-
A Site Selector’s Checklist for Locating in the U.S.
Location USA 2019
-
Hiring Challenges Continue Throughout the U.S.
Q4 2019
-
Where to Invest in the Booming Aerospace Manufacturing Industry
2019 Auto/Aero Site Guide
-
A Tale of Demographics
Q4 2019