Alexander & Baldwin has announced that they will be selling the Maui Mall to Alberta Development Partners. President and Chief Operating Officer, Chris Benjamin, stated, "We were not actively seeking to sell the mall. However, we like the fact that W-ADP (the partnership) brings a new source of investment to Maui, and based on W-ADP's extensive experience and relationships in retail properties, we are confident that the mall will continue to thrive under their ownership. We continue to look for new investments on Maui, and this past May we acquired the Napili Plaza, adding it to our portfolio of commercial property investments. Even after the sale of Maui Mall, we will remain one of Maui's largest owners of commercial property, with nearly 370,000 square feet of retail, office and industrial space."
Source: Honolulu Star Advertiser, 11-23-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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