{"id":1004053690,"date":"2011-09-22T09:57:38","date_gmt":"2011-09-22T17:57:38","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=18267"},"modified":"2022-12-07T07:04:51","modified_gmt":"2022-12-07T15:04:51","slug":"alexander-baldwin-acquires-washington-office-building-for-19-7-million","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/alexander-baldwin-acquires-washington-office-building-for-19-7-million\/","title":{"rendered":"Alexander & Baldwin Acquires Washington Office Building for $19.7 Million"},"content":{"rendered":"
\"\"<\/a><\/p>\n

Alexander & Baldwin's Honolulu Headquarters<\/p>\n<\/div>\n

by Liviu Oltean, Associate Editor<\/p>\n

Alexander & Baldwin has purchased an office building in Issaquah, Washington for $19.7 million. The two-story, 147,000-square-foot building is currently leased by Siemens. \u201cThe purchase of the Siemens Building is another example of our strategic reinvestment of Section 1031 tax-deferred proceeds from recent real estate sales into new assets with favorable appreciation prospects,\u201d said Christopher J. Benjamin, president of A&B Properties. A&B Properties is the fourth largest private landowner in Hawaii, with over 87,000 acres primarily on the islands of Maui and Kauai. The company’s investment portfolio comprises about 8 million square feet of retail, office and industrial space located in Hawaii.<\/p>\n

Also making the headlines is W.P. Carey & Co.\u2019s addition to its portfolio of nine self-storage facilities: two facilities in Hawaii, four in California and three in Illinois. The storage facilities were purchased from A-American Self Storage for $46 million. The nine properties comprise of about 662,000 square feet. According to a press release, the storage facilities located in California and Hawaii will be managed by Extra Space Storage, while the others will be managed by SecurCare Self Storage.<\/p>\n

\u201cWe\u2019re pleased to further leverage our expertise in the self-storage space by adding these properties as a follow on to our recent acquisition of 24 storage properties,\u201d said Trevor Bond, W.P. Carey’s President and CEO.<\/p>\n

In other news, Honolulu’s City Council will vote Friday on Church of Jesus Christ-Latter Day Saints\u2019 proposal to develop a 222-room hotel on the site of the former Laie Inn. If the proposal passes, the hotel will be branded as a Courtyard by Marriott Hotel, the Pacific Business News<\/em> reports.<\/p>\n","protected":false},"excerpt":{"rendered":"

by Liviu Oltean, Associate Editor
\nAlexander & Baldwin has purchased an office building in Issaquah, Washington for $19.7 million. The two-story, 147,000-square-foot building is currently leased by Siemens. \u201cThe purchase of the Siemens Building is another example of our strategic reinvestment […]<\/p>\n","protected":false},"author":1158,"featured_media":1004507430,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1588,21742],"tags":[],"class_list":["post-1004053690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-honolulu","category-latest"],"acf":[],"yoast_head":"\nAlexander & Baldwin Acquires Washington Office Building for $19.7 Million - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/alexander-baldwin-acquires-washington-office-building-for-19-7-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alexander & Baldwin Acquires Washington Office Building for $19.7 Million\" \/>\n<meta property=\"og:description\" content=\"by Liviu Oltean, Associate Editor Alexander & Baldwin has purchased an office building in Issaquah, Washington for $19.7 million. 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