{"id":1004179529,"date":"2017-06-07T05:39:40","date_gmt":"2017-06-07T13:39:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004179529"},"modified":"2022-12-08T14:00:58","modified_gmt":"2022-12-08T22:00:58","slug":"alexander-baldwin-expands-hawaii-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/alexander-baldwin-expands-hawaii-industrial-portfolio\/","title":{"rendered":"Alexander &amp; Baldwin Expands Hawaii Industrial Portfolio"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004179530\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Honokohau-Industrial-Park.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004179530\" data-attachment-id=\"1004179530\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/alexander-baldwin-expands-hawaii-industrial-portfolio\/honokohau-industrial-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Honokohau-Industrial-Park.jpg\" data-orig-size=\"761,454\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Mihaela Coste&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1496849402&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Honokohau Industrial Park\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Honokohau-Industrial-Park.jpg?w=761\" class=\"wp-image-1004179530 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Honokohau-Industrial-Park.jpg\" alt=\"Honokohau Industrial Park\" width=\"300\" height=\"179\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Honokohau-Industrial-Park.jpg 761w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Honokohau-Industrial-Park.jpg?resize=300,179 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004179530\" class=\"wp-caption-text\">Honokohau Industrial Park, Kailua-Kona, Hawaii<\/p><\/div>\n<p>Alexander &amp; Baldwin Inc. acquired five multi-tenant industrial buildings that are part of the Honokohau Industrial Park located in Kailua-Kona, Hawaii. The assets encompassing approximately 73,200 square feet of prime industrial space situated on two lots traded for $10 million.<\/p>\n<p>The purchase was financed with sales proceeds from non-income producing properties and the in-going cap rate is 8.3 percent.<\/p>\n<p>Honokohau Industrial Park stands on a 37-acre site and offers a broad range of industrial uses. The complex is located directly above Honokohau Harbor, 3 miles from downtown Kailua-Kona and 5\u00a0miles from the Kona Airport.<\/p>\n<p>At the time of the transaction, the assets were 94 percent occupied by tenants from the construction, tourism, food distribution, automotive repair and transportation industries, generating an annualized base rent of\u00a0$12.1\u00a0per square foot.<\/p>\n<p>&#8220;<em>This is a quality property that expands our industrial portfolio in\u00a0Hawaii, consistent with our intent to increase investments in this attractive asset class,&#8221;<\/em> said\u00a0Lance Parker, president of A&amp;B Properties, in a prepared statement.<\/p>\n<p>Hawaii-based Alexander &amp; Baldwin Inc. manages a portfolio comprising 4.7 million square feet of leasable space across the\u00a0U.S. and owns approximately 87,000 acres in Hawaii, being one of the state\u2019s largest private landowner and real estate investors.<\/p>\n<p><em>Image courtesy of <\/em><em>Honokohau Industrial Park<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The five buildings, part of an industrial campus located in Kailua-Kona, were 94 percent occupied at the time of the transaction. <\/p>\n","protected":false},"author":1192,"featured_media":1004179530,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1588,21748,21742,15],"tags":[36014],"class_list":["post-1004179529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-honolulu","category-industrial","category-latest","category-west","tag-alexander-baldwin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alexander &amp; Baldwin Expands Hawaii Industrial Portfolio - 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-expands-hawaii-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alexander &amp; Baldwin Expands Hawaii Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"The five buildings, part of an industrial campus located in Kailua-Kona, were 94 percent occupied at the time of the transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/alexander-baldwin-expands-hawaii-industrial-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-07T13:39:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:00:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Honokohau-Industrial-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"761\" \/>\n\t<meta property=\"og:image:height\" content=\"454\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mihaela Coste\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/alexander-baldwin-expands-hawaii-industrial-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/alexander-baldwin-expands-hawaii-industrial-portfolio\/\",\"name\":\"Alexander &amp; 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