A&B Sells 5 Land Parcels at Maui Small business Park and Expands Development’s Offerings
2 min read
Commerical actual estate corporation Alexander & Baldwin announced right now the enlargement of its land choices in the South Challenge spot of the Maui Small business Park right after promoting on Friday five land parcels totaling 6.3 acres for $10.9 million in the North Challenge spot of the 125-acre advancement.
The five land parcels (models 14-18) were purchased April 30, 2021 by an affiliate of R.D. Olson Progress.
Considering the fact that March of very last calendar year, A&B has bought 8.7 acres of land for $15.1 million at its Maui Business enterprise Park, a 125-acre industrial-zoned enhancement in central Kahului close to the Kahului Airport and Harbor, according to the companyʻs news release.
“[The] closing of the sale of five land parcels in Maui Organization Park Phase II (“MBPII”) reflects continued consumer interest in this perfectly-situated project even with the troubles offered by COVID,” mentioned Jeff Pauker, A&B senior vice president, investments. “In response to this profits momentum, A&B is bringing to industry added lands with extraordinary frontage together Ho’okele Avenue – Kahului’s most active commercial corridor.
“The lands are getting available for sale or for build-to-accommodate leases. Purchasers/tenants of these land condominium models will reward from adjacency to leading stores together with Concentrate on, Safeway and Lowe’s, as very well as the a lot of other area and national industrial and industrial consumers located in the business park.“
Alexander & Baldwin’s most recent land choices are within MBPII’s South Project area located off Hana Freeway at Hoʻokele Street. The 12 land condominium models not long ago produced for sale vary from .9 to 4.7 acres with asking selling prices from $44 to $58 for each square foot.
“We’re optimistic that ongoing achievements at Maui Enterprise Park will shortly translate into the opening of new firms that assist nearby work opportunities, residents, organization entrepreneurs and Maui’s in general economic climate,” Pauker explained.
A&B’s special broker for Maui Small business Park is professional true estate brokerage firm Colliers. For added data relating to Maui Business enterprise Park, visit mauibusinesspark.com, phone 808-636-3999 or email [email protected]
