ALEXANDER & BALDWIN COMPLETES OFFICE BUILDING PURCHASES
Haseko Center and Ocean View Center 


HONOLULU -- A subsidiary of Alexander & Baldwin, Inc. (A&B) today completed the 
$18 million purchase of two prime downtown Honolulu office buildings—Haseko Center and Ocean View Center—announced W. Allen Doane, A&B’s president and chief executive officer. The A&B subsidiary which made the purchase is WDCI, Inc. The two properties have a total leasable area of 160,000 square feet and boast occupancy rates of 93 percent and 96 percent, respectively. Both buildings have been recognized for their excellence in building maintenance, which, along with their prime location, accounts for their high occupancy. They are located adjacent to each other in close proximity to numerous state and federal government buildings.

“This purchase is part of A&B’s ongoing program for the acquisition of real estate properties in Hawaii and on the mainland,” said Doane, “and is a reflection of A&B’s continuing belief in the future of Hawaii’s economy.”

A&B currently has a portfolio of commercial properties in Hawaii and on the U.S. mainland consisting of more than 3.8 million square feet of leasable retail, office and industrial space.

WDCI, Inc. is a subsidiary of A&B-Hawaii, Inc., the food products, and real estate development and management subsidiary of Alexander & Baldwin, Inc. (NASDAQ: ALEX), a diversified corporation headquartered in Honolulu. A&B’s other main subsidiary is Matson Navigation Company, Inc. (ocean transportation).

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