A&B Properties Acquires Hawaii and California Distribution Parks
05 3월 2009 - 8:23AM
Business Wire
A&B Properties, Inc., the real estate subsidiary of
Alexander & Baldwin, Inc. (NYSE: AXB)(�Company�), announced
today that it has acquired two commercial properties: (1) the
Activity Distribution Center (�Activity�), a 252,000 square-foot,
four-building warehouse and distribution facility in San Diego,
California, and (2) the Waipio Gentry Portfolio (�Waipio�), a
158,000 square-foot, five-building distribution and service center
facility in Central Oahu, Hawaii.
�The acquisitions of Activity and Waipio further support our
real estate investment strategy to own and operate
logistics-oriented warehouse facilities in key distribution
markets,� said Norbert M. Buelsing, president of A&B
Properties. �The purchase of Activity, a well-designed facility in
Miramar, a centrally-located submarket of San Diego, and Waipio, an
established mainstay for Central Oahu wholesale and distribution
companies, provide additional anchors in an extended national
portfolio.� Both acquisitions were funded using 1031 tax-deferred
proceeds from earlier commercial property dispositions.
Activity is located in one of the strongest industrial
submarkets in San Diego County. The facility is currently fully
leased to a mixed tenant base that services both U.S. and
international businesses. The state-of-the-art, flex-industrial
park features concrete tilt-up buildings with grade and dock-level
loading, minimum 22�-24� clearance and large concrete truck courts.
The park has direct access to Miramar Road, one of the primary
thoroughfares in the area, and is located within five miles of San
Diego�s primary freeway arterials.
Waipio Gentry Portfolio is located in the Gentry Business Park,
a 125-acre business park in the master planned community of Waipio.
The warehouse and distribution facility provides easy access to
downtown Honolulu and burgeoning West Oahu, with convenient access
to Honolulu�s main freeways. The five-building facility is spread
over 6.7 acres on six fee-simple parcels and features concrete
tilt-up designs with clear heights ranging from 18 to 28 feet,
providing dock high and grade-level loading. Waipio is 98 percent
leased to a mix of wholesale, retail and manufacturing tenants.
With these acquisitions, A&B Properties� commercial
property/investment portfolio consists of 8.6 million square feet
of retail, office and industrial space located in Hawaii and eight
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 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 food products
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.
Alexander & Baldwin, Inc. (NYSE:AXB)
과거 데이터 주식 차트
부터 8월(8) 2024 으로 9월(9) 2024
Alexander & Baldwin, Inc. (NYSE:AXB)
과거 데이터 주식 차트
부터 9월(9) 2023 으로 9월(9) 2024