Alexander & Baldwin, Inc. is a Honolulu-based company that was once part of the Big Five companies in territorial Hawaii. The company today operates businesses in shipping, sugar cane, real estate, and diversified agriculture. It is also the only "Big Five" company that still cultivates sugar cane. It remains one of the State of Hawaii's largest private landowners, owning about 89,000 acres (36,000 ha) throughout the state. In addition, the company owns over a dozen income properties in the continental United States.
Alexander & Baldwin has its headquarters in downtown Honolulu at the Alexander & Baldwin Building, which was built in 1929. In 1831, Dwight Baldwin (1798–1886) and Charlotte Fowler Baldwin were sent by the American Board of Commissioners for Foreign Missions (ABCFM) as medical missionaries to the Sandwich Islands, as the Hawaiian Islands were called at the time. Reverend William Alexander and Mary McKinney Alexander arrived the following year in 1832.
Alexander & Baldwin was founded by their sons Samuel Thomas Alexander and Henry Perrine Baldwin (1842–1911) as Samuel T Alexander & Co., in 1870. The two purchased 561 acres (227 ha) of land on the island of Maui between Pāʻia and Makawao, on which they began to cultivate sugarcane.
The land the partners cultivated was semi-arid former dry forest, not ideal for growing sugarcane, a crop that required much water. Samuel Alexander realized that rain was plentiful miles away in the rainforests on the windward slopes of Haleakalā mountain. Thus, he designed a 17-mile (27 km) long irrigation aqueduct that diverted water from that part of Haleakalā to their plantation. Work started on the aqueduct in 1876 and was completed two years later in 1878.
After completion of the aqueduct, the company grew and was eventually renamed Alexander & Baldwin Plantation. Between 1872 and 1900, the company gradually took over more land and sugar mill operations. In 1898, Alexander and Baldwin purchased a controlling interest in one of its rival companies, Hawaiian Commercial & Sugar Company (HC&S) from Claus Spreckles.[4] By 1899, the company had bought out Maui’s two main railroad lines (Kahului Railroad Company and Maui Railroad & Steamship Company). In 1900, the companyincorporated and was renamed Alexander & Baldwin, Ltd.
Distribution Strategy
-A&B Properties, Inc., the real estate subsidiary of Alexander & Baldwin, Inc., today announced the sale of the Ontario Distribution Center, a 898,400 square-foot, three-building industrial park located on 38 acres in Ontario, California, for $43 million. A&B purchased the property in 2000 for $27 million.
“We achieved an exceptional 97 percent average occupancy during our 10-year ownership and realized favorable pricing for the property. Consistent with our real estate investment strategy, we anticipate reinvesting the proceeds from this sale, through a tax-advantaged 1031 transaction, into other commercial real estate investments with good growth prospects.”
“Located in the heart of the Inland Empire, Ontario Distribution Center has been a good investment for A&B,” said Norbert M. Buelsing, president of A&B Properties. “We achieved an exceptional 97 percent average occupancy during our 10-year ownership and realized favorable pricing for the property. Consistent with our real estate investment strategy, we anticipate reinvesting the proceeds from this sale, through a tax-advantaged 1031 transaction, into other commercial real estate investments with good growth prospects.”
With the sale of this property, A&B Properties’ commercial property/investment portfolio consists of 7.5 million square feet of retail, office and industrial space located in Hawaii and seven U.S. mainland states
&B Properties, Inc., the real estate subsidiary of Alexander & Baldwin, Inc. (NYSE:ALEX)(“Company”), announced today that it has acquired two 100% occupied distribution warehouses in the Northpoint Commerce Center (“Northpoint”), comprising 119,400 square feet of leaseable area, located in Fullerton, California.
“The acquisition of Northpoint is a continuing reflection of A&B’s core strategy of tax-effectively reinvesting, through 1031 exchanges, recent real estate sales proceeds in properties with greater prospects for appreciation and growth,” said Norbert M. Buelsing, president of A&B Properties. “In the past two years, A&B has acquired seven industrial and warehouse properties, representing nearly four million square feet of leasable space. These acquisitions, generally located in key industrial submarkets of major metropolitan areas, are part of an ongoing strategy to acquire quality logistics-oriented warehouse facilities in supply-constrained markets.”
Developed in 1991, Northpoint is part of the 47-acre, 11-building Northpoint Commerce master-planned industrial park in Fullerton, a well-located industrial submarket of North Orange County. Northpoint is located less than three miles from I-5 (Santa Ana) and Highway 90 (Riverside Freeway), two major traffic arterials in Los Angeles. The well-designed buildings have been configured to serve as a regional hub for its two tenants: an international records management company and a major food service distributor.
Alexander & Baldwin, Inc. announced today that it completed the acquisition of the Republic Distribution Center ("RDC"), a 313,000 square foot industrial facility near the Port of Houston's two major container terminals.
"The acquisition of Republic Distribution Center extends our emerging investment strategy of acquiring logistics-oriented warehouse facilities in key domestic transportation nodes," said A&B Chairman and CEO Allen Doane. "Coupled with recent acquisitions of industrial facilities in Savannah and Dallas, and a warehousing and distribution company in the San Francisco Bay Area, we have added well over three million square feet of warehouse capacity to our national portfolio within the last year. And by using tax-deferred proceeds from recent property dispositions, we have acquired this facility on a tax-advantaged basis, which is a continuing core strategy in the management of our commercial property portfolio."
Construction of the RDC was completed in 2007 by Johnson Development Associates, a South Carolina-based development firm specializing in the construction of logistics-oriented facilities situated near major deepwater ports. The cross-dock facility includes 44 dock-high doors and 46 trailer storage spaces and is nearly 50 percent leased to a regional third-party logistics company.
The Port of Houston consists of multiple facilities along 25 miles of the Houston ship channel and is the nation's second busiest port based on total tonnage, and the seventh busiest container port. Future port growth is expected due to Houston's central U.S. location, trade lane access to South and Central American markets, and proximity to the Panama Canal.
A&B Municipal Distribution Solutions LLC in Hartford, CT is a private company categorized under Environmental Consultant. Current estimates show this company has an annual revenue of 500,000 and employs a staff of approximately 10. Companies like A&B Municipal Distribution Solutions LLC usually offer: Environmental Business Consulting, Environmental Consulting Services, Environmental Management Consulting, Environmental Strategy Consulting and Environmental Planning Consulting
List of businesses owned by Alexander & Baldwin, Inc.
East Maui Irrigation Co., Ltd. (maintains irrigation ditches originally built in the 1870s as noted above)
Hawaiian Commercial & Sugar Company (sugar growing division)
Matson Navigation Co., Inc. (shipping company)
Matson Integrated Logistics
Matson Global Distribution Services
Matson Terminals, Inc.
A & B Properties, Inc. (real estate and development company)
Maui Brand Sugars (sugar brand)
Kauai Commercial Company, Inc. (freight trucking)
Alexander & Baldwin has its headquarters in downtown Honolulu at the Alexander & Baldwin Building, which was built in 1929. In 1831, Dwight Baldwin (1798–1886) and Charlotte Fowler Baldwin were sent by the American Board of Commissioners for Foreign Missions (ABCFM) as medical missionaries to the Sandwich Islands, as the Hawaiian Islands were called at the time. Reverend William Alexander and Mary McKinney Alexander arrived the following year in 1832.
Alexander & Baldwin was founded by their sons Samuel Thomas Alexander and Henry Perrine Baldwin (1842–1911) as Samuel T Alexander & Co., in 1870. The two purchased 561 acres (227 ha) of land on the island of Maui between Pāʻia and Makawao, on which they began to cultivate sugarcane.
The land the partners cultivated was semi-arid former dry forest, not ideal for growing sugarcane, a crop that required much water. Samuel Alexander realized that rain was plentiful miles away in the rainforests on the windward slopes of Haleakalā mountain. Thus, he designed a 17-mile (27 km) long irrigation aqueduct that diverted water from that part of Haleakalā to their plantation. Work started on the aqueduct in 1876 and was completed two years later in 1878.
After completion of the aqueduct, the company grew and was eventually renamed Alexander & Baldwin Plantation. Between 1872 and 1900, the company gradually took over more land and sugar mill operations. In 1898, Alexander and Baldwin purchased a controlling interest in one of its rival companies, Hawaiian Commercial & Sugar Company (HC&S) from Claus Spreckles.[4] By 1899, the company had bought out Maui’s two main railroad lines (Kahului Railroad Company and Maui Railroad & Steamship Company). In 1900, the companyincorporated and was renamed Alexander & Baldwin, Ltd.
Distribution Strategy
-A&B Properties, Inc., the real estate subsidiary of Alexander & Baldwin, Inc., today announced the sale of the Ontario Distribution Center, a 898,400 square-foot, three-building industrial park located on 38 acres in Ontario, California, for $43 million. A&B purchased the property in 2000 for $27 million.
“We achieved an exceptional 97 percent average occupancy during our 10-year ownership and realized favorable pricing for the property. Consistent with our real estate investment strategy, we anticipate reinvesting the proceeds from this sale, through a tax-advantaged 1031 transaction, into other commercial real estate investments with good growth prospects.”
“Located in the heart of the Inland Empire, Ontario Distribution Center has been a good investment for A&B,” said Norbert M. Buelsing, president of A&B Properties. “We achieved an exceptional 97 percent average occupancy during our 10-year ownership and realized favorable pricing for the property. Consistent with our real estate investment strategy, we anticipate reinvesting the proceeds from this sale, through a tax-advantaged 1031 transaction, into other commercial real estate investments with good growth prospects.”
With the sale of this property, A&B Properties’ commercial property/investment portfolio consists of 7.5 million square feet of retail, office and industrial space located in Hawaii and seven U.S. mainland states
&B Properties, Inc., the real estate subsidiary of Alexander & Baldwin, Inc. (NYSE:ALEX)(“Company”), announced today that it has acquired two 100% occupied distribution warehouses in the Northpoint Commerce Center (“Northpoint”), comprising 119,400 square feet of leaseable area, located in Fullerton, California.
“The acquisition of Northpoint is a continuing reflection of A&B’s core strategy of tax-effectively reinvesting, through 1031 exchanges, recent real estate sales proceeds in properties with greater prospects for appreciation and growth,” said Norbert M. Buelsing, president of A&B Properties. “In the past two years, A&B has acquired seven industrial and warehouse properties, representing nearly four million square feet of leasable space. These acquisitions, generally located in key industrial submarkets of major metropolitan areas, are part of an ongoing strategy to acquire quality logistics-oriented warehouse facilities in supply-constrained markets.”
Developed in 1991, Northpoint is part of the 47-acre, 11-building Northpoint Commerce master-planned industrial park in Fullerton, a well-located industrial submarket of North Orange County. Northpoint is located less than three miles from I-5 (Santa Ana) and Highway 90 (Riverside Freeway), two major traffic arterials in Los Angeles. The well-designed buildings have been configured to serve as a regional hub for its two tenants: an international records management company and a major food service distributor.
Alexander & Baldwin, Inc. announced today that it completed the acquisition of the Republic Distribution Center ("RDC"), a 313,000 square foot industrial facility near the Port of Houston's two major container terminals.
"The acquisition of Republic Distribution Center extends our emerging investment strategy of acquiring logistics-oriented warehouse facilities in key domestic transportation nodes," said A&B Chairman and CEO Allen Doane. "Coupled with recent acquisitions of industrial facilities in Savannah and Dallas, and a warehousing and distribution company in the San Francisco Bay Area, we have added well over three million square feet of warehouse capacity to our national portfolio within the last year. And by using tax-deferred proceeds from recent property dispositions, we have acquired this facility on a tax-advantaged basis, which is a continuing core strategy in the management of our commercial property portfolio."
Construction of the RDC was completed in 2007 by Johnson Development Associates, a South Carolina-based development firm specializing in the construction of logistics-oriented facilities situated near major deepwater ports. The cross-dock facility includes 44 dock-high doors and 46 trailer storage spaces and is nearly 50 percent leased to a regional third-party logistics company.
The Port of Houston consists of multiple facilities along 25 miles of the Houston ship channel and is the nation's second busiest port based on total tonnage, and the seventh busiest container port. Future port growth is expected due to Houston's central U.S. location, trade lane access to South and Central American markets, and proximity to the Panama Canal.
A&B Municipal Distribution Solutions LLC in Hartford, CT is a private company categorized under Environmental Consultant. Current estimates show this company has an annual revenue of 500,000 and employs a staff of approximately 10. Companies like A&B Municipal Distribution Solutions LLC usually offer: Environmental Business Consulting, Environmental Consulting Services, Environmental Management Consulting, Environmental Strategy Consulting and Environmental Planning Consulting
List of businesses owned by Alexander & Baldwin, Inc.
East Maui Irrigation Co., Ltd. (maintains irrigation ditches originally built in the 1870s as noted above)
Hawaiian Commercial & Sugar Company (sugar growing division)
Matson Navigation Co., Inc. (shipping company)
Matson Integrated Logistics
Matson Global Distribution Services
Matson Terminals, Inc.
A & B Properties, Inc. (real estate and development company)
Maui Brand Sugars (sugar brand)
Kauai Commercial Company, Inc. (freight trucking)