Alexander & Baldwin Announces Three Transactions at Maui Business Park II
Final Phase of Subdivision Provides Unique Commercial Development Opportunities in
The first transaction is a build-to-suit industrial lease to develop a Class A, 29,500-square-foot warehouse and distribution facility on two lots totaling 2.4 acres for lease to a national food manufacturer and distributor. The tenant will relocate their existing operations in
Additionally, the County of
With 21 remaining lots ranging from one-half to five acres, the project's final increment allows for warehousing, distribution, light manufacturing, retail, and office uses. It represents the last opportunity to own or lease commercial space fronting the park's highly trafficked main thoroughfare, Ho'okele Street. A&B has commenced the subdivision process and intends to complete all infrastructure improvements required to deliver finished lots in this final increment by early 2026. Land in this final increment is currently available for build-to-suit, ground lease, and fee purchase as condominium units prior to subdivision completion, allowing users to permit and construct their vertical improvements concurrently with horizontal build-out.
The second sale consists of two of the remaining lots available in the park's initial increments, totaling 1.3 acres, sold to
"We are encouraged by the momentum and diversity of leasing and sales activity at Maui Business Park Phase II," said
Pauker continued, "Adding new inventory is an opportunity for users to expand or enter the market through build-to-suit or ground lease opportunities with A&B or as land purchasers, all of which will contribute to the local economy and reinforce our long-standing commitment to the
Maui Business Park Phase II is represented by Colliers.
ABOUT
Maui Business Park Phase II is a 125-acre, mixed-use development near the
ABOUT ALEXANDER & BALDWIN
FORWARD-LOOKING STATEMENTS
Statements in this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding possible or assumed future closings of transactions and business results. Such forward-looking statements speak only as of the date the statements were made and are not guarantees of future performance. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from those expressed in or implied by the forward-looking statements. These factors include, but are not limited to, prevailing market conditions and the Company's business generally discussed in the Company's most recent Form 10-K, Form 10-Q and other filings with the
Learn more about A&B at www.alexanderbaldwin.com.
Contact:
View original content to download multimedia:https://www.prnewswire.com/news-releases/alexander--baldwin-announces-three-transactions-at-maui-business-park-ii-302067829.html
SOURCE