Alexander & Baldwin, Inc. announced on May 29, 2025, the initiation of a new development project at its Komohana Industrial Park in Kapolei, O'ahu. The project involves the construction of two Class A industrial buildings, totaling approximately 121,000 square feet of gross leasable area (GLA).
One of the new buildings is a 91,000-square-foot build-to-suit distribution center, which has been pre-leased to Lowe's. This facility is expected to be in service by the fourth quarter of 2026 and contribute $2.8 million in annual Net Operating Income (NOI) when stabilized in the first quarter of 2027.
Additionally, a 30,000-square-foot industrial build-to-suit project on Maui is anticipated for completion in the first quarter of 2026, projected to add $1 million in annual NOI. These developments highlight Alexander & Baldwin's commitment to expanding its high-demand industrial portfolio and generating accretive growth.
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