A&B Properties Acquires Prime Condominium Development Sites on Oahu
2010年7月1日 - 9:00PM
ビジネスワイヤ(英語)
A&B Properties, Inc., the real estate subsidiary of
Alexander & Baldwin, Inc. (NYSE:ALEX), announced today that it
has completed the acquisition of two fully-entitled, fee-simple
development sites with prime locations in Honolulu, between the Ala
Moana Shopping Center and the Ward retail center. The first site,
comprising 1.7 acres, is located on Waimanu Street adjacent to the
Hawai‘iki and Ko‘olani condominium towers, and is approved for a
43-story residential condominium project. The second site, in close
proximity to the first site, is a 0.7-acre parcel located at the
intersection of Kona and Piikoi Streets, and is entitled for an
eight-story residential condominium project.
“Through this transaction, A&B Properties has secured two
ready-to-develop, extremely well-located urban Honolulu parcels at
favorable pricing,” said Norbert M. Buelsing, president of A&B
Properties. “Both sites are within short walking distance to Ala
Moana Beach Park and Oahu’s main shopping destinations, Ala Moana
Shopping Center and Victoria Ward Center. The sites also are within
two miles of Waikiki and downtown Honolulu.”
About A&B Properties:
A&B Properties is Hawaii’s fourth largest private landowner,
holding over 88,000 acres primarily on the islands of Maui and
Kauai. A&B Properties’ diverse real estate holdings includes
projects on Maui, Kauai, the Big Island and in California and a
commercial property/investment portfolio comprising 8.2 million
square feet of retail, office and industrial space located in
Hawaii (20 properties) and seven mainland states (22 properties).
Additional information may be found at A&B Properties’ web
site: www.abprop.com.
About Alexander &
Baldwin: A&B is headquartered in Honolulu, Hawaii and is
engaged in ocean transportation and logistics services through its
subsidiaries, Matson Navigation Company, Inc., Matson Integrated
Logistics, Inc. and Matson Global Distribution Services; in real
estate through A&B Properties, Inc.; and in agribusiness
through Hawaiian Commercial & Sugar Company and Kauai Coffee
Company, Inc. Additional information about A&B may be found at
its web site: www.alexanderbaldwin.com.
Statements in this press 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
statement. These forward-looking statements are not guarantees of
future performance. This release should be read in conjunction with
our Annual Report on Form 10-K and our other filings with the SEC
through the date of this release, which identify important factors
that could affect the forward-looking statements in this
release.
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