Pacific Business News - A&B Properties Inc., the real estate subsidiary of Alexander & Baldwin, Inc., has started sale of 65 fee-simple lots in the first increment of the second phase of its Maui Business Park light industrial subdivision near Kahului.
The lots range in size from one half acre to 5.5 acres and are intended for warehouse, distribution, light manufacturing, retail and office use.
"The launch of sales at the first increment of Maui Business Park-Phase II represents an important milestone in A&B's ongoing effort to accommodate Maui's growing need for well-located, fee-simple property for a spectrum of business uses and needs," A&B President and Chief Operating Officer Christopher J. Benjamin commented in a written statement.
The project is located near the Kahului Airport and close to Costco, which recently purchased four acres in the project for a gas station and car wash and to expand its warehouse store, as well as Lowe's, The Home Depot and Walmart.
"This project will add a diverse mix of space to Maui's main business and retail hub," Benjamin said.
Maui Business Park's first phase sold out in 2005. Another 64 acres will be developed at a later date for the second increment of Phase II, A&B said.