Alexander & Baldwin Announces Ground Lease at Maui Business Park

Core Insights - Alexander & Baldwin, Inc. has executed a 75-year ground lease for 4.7 acres at its Maui Business Park Phase II project, indicating strong commercial activity and interest in the area [1][2] - The lease agreement is with a prominent self-storage developer, which aligns with the company's strategy to transform non-income generating land into productive assets [2] - Maui Business Park Phase II is a 125-acre mixed-use development that has attracted various businesses and is located near key infrastructure such as Kahului Harbor and Kahului Airport [3] Company Overview - Alexander & Baldwin, Inc. is the only publicly-traded real estate investment trust focused exclusively on Hawai'i commercial real estate and is the largest owner of grocery-anchored neighborhood shopping centers in the state [4] - The company manages approximately 4.0 million square feet of commercial space in Hawai'i, including 21 retail centers, 14 industrial assets, and four office properties [4] - Over its 155-year history, the company has played a significant role in the development of various industries in Hawai'i, including agriculture, transportation, tourism, and commercial real estate [4]