Alexander & Baldwin Announces Ground Lease at Maui Business Park
Alexander & Baldwin (NYSE: ALEX) has secured a 75-year ground lease agreement for 4.7 acres at its Maui Business Park Phase II project in Kahului, Maui. The lease, established with a prominent self-storage developer, represents the company's strategy to convert non-income generating land into productive assets.
CEO Lance Parker highlighted the strong commercial activity at Maui Business Park and noted that alongside their ongoing build-to-suit development project, this capital-efficient approach allows A&B to potentially invest in the asset's development while expanding their commercial real estate portfolio in Hawaii.
Alexander & Baldwin (NYSE: ALEX) ha ottenuto un contratto di locazione del terreno della durata di 75 anni per 4,7 acri nel suo progetto Maui Business Park Fase II a Kahului, Maui. La locazione, stipulata con un importante sviluppatore di self-storage, rappresenta la strategia dell'azienda di trasformare terreni non redditizi in asset produttivi.
Il CEO Lance Parker ha sottolineato la forte attivit脿 commerciale al Maui Business Park e ha evidenziato che, insieme al loro progetto di sviluppo build-to-suit in corso, questo approccio efficiente dal punto di vista del capitale consente ad A&B di investire potenzialmente nello sviluppo dell'asset ampliando al contempo il loro portafoglio immobiliare commerciale alle Hawaii.
Alexander & Baldwin (NYSE: ALEX) ha asegurado un contrato de arrendamiento de terreno por 75 a帽os para 4,7 acres en su proyecto Maui Business Park Fase II en Kahului, Maui. El arrendamiento, establecido con un destacado desarrollador de self-storage, representa la estrategia de la empresa para convertir terrenos que no generan ingresos en activos productivos.
El CEO Lance Parker destac贸 la fuerte actividad comercial en Maui Business Park y se帽al贸 que, junto con su proyecto de desarrollo a medida en curso, este enfoque eficiente en capital permite a A&B invertir potencialmente en el desarrollo del activo mientras ampl铆an su cartera de bienes ra铆ces comerciales en Haw谩i.
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Alexander & Baldwin (NYSE : ALEX) a conclu un bail foncier de 75 ans pour 4,7 acres dans son projet Maui Business Park Phase II 脿 Kahului, Maui. Ce bail, 茅tabli avec un important d茅veloppeur de self-stockage, illustre la strat茅gie de l'entreprise visant 脿 transformer des terrains non g茅n茅rateurs de revenus en actifs productifs.
Le PDG Lance Parker a soulign茅 la forte activit茅 commerciale au Maui Business Park et a not茅 qu'en parall猫le de leur projet de d茅veloppement sur mesure en cours, cette approche efficace en capital permet 脿 A&B d'investir potentiellement dans le d茅veloppement de l'actif tout en 茅largissant leur portefeuille immobilier commercial 脿 Hawa茂.
Alexander & Baldwin (NYSE: ALEX) hat einen 75-j盲hrigen Grundst眉ckspachtvertrag 眉ber 4,7 Acres f眉r sein Projekt Maui Business Park Phase II in Kahului, Maui, gesichert. Der Pachtvertrag, der mit einem f眉hrenden Entwickler von Self-Storage-Anlagen abgeschlossen wurde, spiegelt die Strategie des Unternehmens wider, nicht ertragsbringendes Land in produktive Verm枚genswerte umzuwandeln.
CEO Lance Parker hob die starke kommerzielle Aktivit盲t im Maui Business Park hervor und betonte, dass diese kapital-effiziente Vorgehensweise neben ihrem laufenden Build-to-Suit-Entwicklungsprojekt A&B erm枚glicht, potenziell in die Entwicklung des Verm枚genswerts zu investieren und gleichzeitig ihr Portfolio an Gewerbeimmobilien auf Hawaii zu erweitern.
- Secured long-term 75-year ground lease agreement, providing stable income stream
- Strategic conversion of non-income generating land into revenue-producing asset
- Additional investment opportunity in asset development
- Reports strong commercial activity and interest at Maui Business Park
- None.
"I am pleased with the robust commercial activity and strong interest we continue to see at Maui Business Park," said Lance Parker, president and chief executive officer. "This long-term ground lease represents a capital-efficient approach to expanding our portfolio and transforming non-income generating land into a productive asset. With this new relationship, we have an opportunity to invest in the development of the asset as well. Alongside our ongoing build-to-suit development project, this agreement demonstrates our commitment to strategically enhancing our commercial real estate portfolio and delivering value to our investors, tenants, and the local community."
ABOUT听MAUI听BUSINESS PARK PHASE II
Maui Business Park Phase II is a 125-acre, mixed-use development near the Kahului Harbor and Kahului Airport, with immediate and easy access to all parts of Maui Island. The park has successfully attracted national, regional, and local businesses, establishing itself as听Maui's听prime neighborhood retail and industrial submarket. Leasing and sales are underway for lots ranging from one-half to five acres located within an Opportunity Zone, affording potential tax deferral benefits to qualified land purchasers. For more information on parcels available for sale or leasing opportunities at Maui Business Park Phase II, visit https://www.mauibusinessparkphase2.com听or contact听Bill Froelich听at听[email protected].
ABOUT ALEXANDER & BALDWIN
Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 4.0 million square feet of commercial space in Hawai'i, including 21 retail centers, 14 industrial assets and four office properties, as well as 146 acres of ground lease assets. Over its 155-year history, A&B has evolved with the state's economy and played a leadership role in the development of the agricultural, transportation, tourism, construction, residential and commercial real estate industries.
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 and 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 results of operations, business strategies, growth opportunities and competitive positions. 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 other factors related to the Company's REIT status and the Company's business, the evaluation of alternatives by the Company related to its non-core assets and business, and the risk factors discussed in the Company's most recent Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission. The information in this release should be evaluated in light of these important risk factors. We do not undertake any obligation to update the Company's forward-looking statements.
Learn more about A&B at .
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FAQ
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