Profile: Alexander & Baldwin Inc (ALEX.K)
30 Jun 2016
Alexander & Baldwin, Inc. (A&B), incorporated in 1900, is engaged in real estate development, real estate leasing, materials and construction, and agribusiness. The Company operates in four segments: Real Estate Development and Sales, Real Estate Leasing, Materials and Construction, and Agribusiness. The Company's real estate segments engage in real estate development and ownership activities, including planning, zoning, financing, constructing, purchasing, managing, leasing, selling, exchanging and investing in real property. Real estate activities are conducted through A&B Properties, Inc. and other subsidiaries of A&B.
Real Estate Development and Sales
The Real Estate Development and Sales segment is engaged in program of land stewardship, planning, entitlement, development, real estate investment, and sale of land and commercial and residential properties, principally in Hawaii. Real Estate Development and Sales revenue represents proceeds from the sale of various real estate development inventory. Real estate development inventory may include industrial lots, residential lots, condominium units, single-family homes and multi-family homes. The Company owns over 87,710 acres in Hawaii and over 155 acres on the United States Mainland. Hawaii landholdings are primarily used for agriculture, pasture, watershed and conservation purposes. Its development pipeline encompasses over a dozen projects entitled for over 3,000 residential units. Its projects include Maui, such as Maui Business Park II, Wailea and Kamalani; Kauai, such as Kukui'ula, and Oahu, such as Kahala Avenue Portfolio and Waihonua at Kewalo.
Real Estate Leasing
The Real Estate Leasing segment owns, operates and manages a portfolio of over 60 retail, office and industrial properties in Hawaii and on the Mainland totaling approximately 4.9 million square feet of gross leasable area (GLA). Its commercial properties are located on Oahu and Maui, with smaller holdings on Kauai and the Island of Hawaii. Its Hawaii commercial properties include Pearl Highlands Center, Komohana Industrial Park and Waianae Mall. On the Mainland, A&B owns a portfolio of over 10 commercial properties consisting of retail, industrial and office properties, comprising approximately 2.2 million square feet of leasable space. Its Mainland commercial properties include Midstate Hayes and Sparks Business Center. The Company also leases urban land in Hawaii to third-party lessees, including over 40 acres on Oahu (managed with over 660,000 square feet of commercial space owned by the lessees) and approximately 60 acres on the neighbor islands.
Materials and Construction
The Materials and Construction segment performs asphalt paving as prime contractor and subcontractor. The segment imports and sells liquid asphalt and also mines, processes and sells rock and sand aggregates. It also produces and sells asphaltic concrete and ready-mix concrete, provides and sells various construction-and traffic-control-related products, and manufactures and sells precast concrete products.
The Agribusiness segment consists of sugar plantation on the island of Maui, operated by its Hawaiian Commercial & Sugar Company (HC&S) division; renewable energy operations on the island of Kauai, operated by McBryde Resources, Inc. (McBryde); Kahului Trucking & Storage, Inc. (KT&S), which provides various trucking services, including sugar and molasses hauling on Maui, mobile equipment maintenance and repair services on Maui, Kauai, and the Big Island, and self-service storage facilities on Maui and Kauai, and Hawaiian Sugar & Transportation Cooperative (HS&TC), an agricultural cooperative that provides raw sugar marketing and transportation services to HC&S. HS&TC owns the MV Moku Pahu, a Jones Act-qualified integrated tug barge bulk dry carrier, which is used to transport raw sugar and molasses from Hawaii to the United States West Coast and coal from the United States West Coast to Hawaii.
Alexander & Baldwin Inc
822 Bishop St
PO Box 3440
HONOLULU HI 96801-3440