FIRST LOT OWNER BREAKS GROUND AT A&B’S MILL TOWN CENTER 
Jade Food Starts Construction in A&B’s New Waipahu Project



HONOLULU – Infrastructure improvements are complete and the first business to purchase a lot at the Mill Town Center industrial subdivision in Waipahu—Jade Food Products, Inc.—today broke ground on its food processing facility, announced Robert K. Sasaki, president of A&B Properties, Inc. (ABP). Last November, this Alexander & Baldwin, Inc. (A&B) subsidiary purchased the property for $8 million, as part of A&B’s ongoing program for the acquisition of development and income properties in Hawaii. The company subsequently completed a $2.4 million investment in infrastructure—roads and underground utilities—for the 17 acre Phase IA. There are a total of 23 half-acre lots in this first phase; to date, the sale of four lots at Mill Town Center have closed and the majority of the remaining lots in Phase 1A is either in escrow or reserved. “We are very encouraged by the business community’s interest in Mill Town Center,” said Sasaki.

Following ABP’ blessing of the Mill Town Center project site, Jade Food Products, Inc. broke ground on an 18,479 square foot lot, which it purchased in June. Jade Food plans to construct a food processing facility on the site, which will employ 18 people making crackseed and other snack items. 

“It was a great location, reasonable price and A&B’s solid reputation that persuaded Jade Food to build a new facility at Mill Town Center,” said Hollis Ho, president of Jade Food Products.

Mill Town Center is located near the former Waipahu Sugar Mill and close to surrounding residential and commercial centers—including Waipahu, Pearl City, Waipio Gentry, Waikele and Ewa—and has nearby access to the H-1 freeway. The industrial-zoned property is configured into two phases. Construction on the 23-acre Phase IB is scheduled to begin next year.

Among the sales in Phase IA that have closed is the purchase by American Standard Concrete Pumping, Inc., of two lots, totaling 63,064 square feet. 

Since the 1960s, A&B Properties has developed hundreds of acres of commercial-zoned land, and numerous office, retail and industrial buildings on Kauai and Maui. The company’s current industrial project on Maui is the 42-acre Phase IA of Maui Business Park, which includes the Maui Marketplace shopping center. A&B has a significant portfolio of commercial properties in Hawaii and on the U.S. mainland consisting of 3.9 million square feet of leasable retail, office and industrial space. Recent purchases in Hawaii include the Haseko Center and Ocean View Center office buildings in downtown Honolulu.

Alexander & Baldwin, Inc. (NASDAQ: ALEX) is a diversified corporation headquartered in Honolulu with two main subsidiaries: Matson Navigation Company, Inc. (ocean transportation) and A&B-Hawaii, Inc. (food products, and property development and management). Additional information about A&B may be found at its web site: www.alexanderbaldwin.com.

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