1. ALEX is redeveloping Komohana Industrial Park in Kapolei. 2. Two Class A buildings will add 121,000 square feet of GLA. 3. 91,000 square feet are pre-leased to Lowe's, increasing demand. 4. Total GLA at KIP will increase by 44% to 343,000 square feet. 5. Construction completion is projected for Q4 2026.
The pre-leasing to Lowe's shows strong demand and revenue potential, similar to previous ALEX expansions enhancing overall portfolio value.
The expansion increases ALEX's industrial footprint significantly, capturing market demand and solidifying revenue generation prospects.
The completion is set for 2026, improving future revenue streams significantly, akin to past successful developments.
HONOLULU, May 29, 2025 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based owner, operator, and developer of high-quality commercial real estate in Hawai'i, announced it will redevelop a portion of its largest industrial asset, Komohana Industrial Park ("KIP") in Kapolei, O'ahu, with the construction of two Class A industrial buildings totaling approximately 121,000 square feet of gross leasable area ("GLA").