A&B Properties Acquires West Oahu Industrial
35-Acre Industrial Complex Expands Hawaii Portfolio
July 20, 2010 04:03 PM Eastern Daylight Time
HONOLULU--(EON: Enhanced Online News)--A&B Properties, Inc., the real estate subsidiary of Alexander &
Baldwin, Inc.(NYSE:ALEX), announced today that it has acquired for $38 million the Komohana Industrial Park
(“Komohana”), a fee simple, 35-acre complex located in Kapolei, West Oahu. It includes five single and multi-
tenant warehouse buildings totaling 238,300 square feet of leasable space, together with 24 acres of land that are
leased to two tenants. All 35 acres are zoned “Industrial,” allowing for a variety of commercial and light and heavy
“The purchase of Komohana furthers our real estate investment strategy of acquiring quality assets in Hawaii,” said
Norbert M. Buelsing, president of A&B Properties. “Komohana is part of the 1,000-acre Campbell Industrial Park,
one of Oahu’s principal industrial markets, in the master-planned city of Kapolei. Significant development over the
past two decades has made Kapolei Oahu’s ‘second city,’ and it is expected that above-average housing and job
growth will continue over the next fifteen years.”
“Komohana also represents a continuation of our strategy to tax-effectively reinvest real estate sales proceeds into
the acquisition of commercial properties with excellent potential for appreciation and growth,” Buelsing added.
Developed over a nearly twenty-year period starting in 1974, Komohana Industrial Park is leased to national and
local manufacturing and construction companies.
With the acquisition of Komohana, A&B Properties’ improved commercial property portfolio consists of 8.4 million
square feet of retail, office and industrial space located in Hawaii and seven U.S. mainland states. Additional
information about A&B Properties, Inc. may be found at its web site: www.abprop.com.
About Alexander & Baldwin: A&B is headquartered in Honolulu, Hawaii and is engaged in ocean