A&B pays $40M for moving company's warehouses in Kapolei

Alexander & Baldwin Inc. has purchased two industrial warehouse buildings in Kapolei for $40 million, the first acquisition financed by the Hawaii real estate investment trust’s $262 million sale of former sugar plantation land on Maui.

The two adjacent parcels located on Opule Street in the first phase of Kapolei Business Park total 6.45 acres and have a total assessed value of $29.9 million. The two warehouses have a total of 150,000 square feet of space, with 32-foot heights and dock-high loading,…