BUSINESS BRIEFS
A&B realty subsidiary opens California office
Advertiser Staff
The real estate subsidiary of Honolulu-based Alexander & Baldwin Inc. has opened an office in Orange County, Calif., to help expand property acquisition and development activity on the Mainland.
The office of A&B Properties Inc. is headed by Kevin Stiles, who joined the company as vice president of Mainland acquisitions.
A&B said that over the last decade it has invested more than $670 million in 25 properties outside of the company's historic Hawai'i land holdings, including more than $100 million over the past four years developing several retail and office properties in California with partners.
Stanley Kuriyama, A&B Properties CEO, said the new office will enable the company to better manage and grow its portfolio on the West Coast.
"As we have increased our acquisition and development activity outside of our core land holdings on Maui and Kaua'i, it has become clear that a stronger presence on the U.S. Mainland will lead to additional opportunities for growth and greater value creation," he said in a statement.
A&B owns 89,000 acres in Hawai'i. The company's commercial real estate portfolio comprises about 5.4 million square feet of retail, office and industrial space in Hawai'i and on the Mainland.
