Alexander & Baldwin Acquires Ground Lease Interest in Industrial Park in Hawaii for $41M
KAPOLEI, HAWAII — Alexander & Baldwin has purchased the ground lease interest in Kapolei Business Park West Lot 31 in Kapolei for $41 million in an off-market transaction. The property is commonly known as the Honolulu Authority of Rapid Transportation (HART) precast yard.
The 36.4-acre parcel of I-2 (industrial-zoned) land is licensed to the City and County of Honolulu through 2025. The property is a fabrication facility and storage yard for the precast concrete components of the guideways for the HART rail project.
Additional terms of the sale were not released.