Alexander & Baldwin announces three transactions at Maui Business Park II

Alexander & Baldwin announced a build-to-suit lease and two sales at its Maui Business Park Phase II – MBP II – project in Kahului, Maui. The first transaction is a build-to-suit industrial lease to develop a Class A, 29,500-square-foot warehouse and distribution facility on two lots totaling 2.4 acres for lease to a national food manufacturer and distributor. Completion and occupancy of the facility is expected in 4Q25. The County of Maui initiated the purchase of 12.5 acres in the business park’s final phase of horizontal development for $17.4M, which will close upon subdivision completion. The County plans to construct a new facility for its Department of Transportation. With 21 remaining lots ranging from one-half to five acres, the project’s final increment allows for warehousing, distribution, light manufacturing, retail, and office uses. A&B has commenced the subdivision process and intends to complete all infrastructure improvements required to deliver finished lots in this final increment by early 2026. The second sale consists of two of the remaining lots available in the park’s initial increments, totaling 1.3 acres, sold to Hamai Appliances for $2.4M.