HONOLULU-A&B Properties Inc., the real estate subsidiary of Alexander & Baldwin Inc. has completed the acquisition of two fully-entitled, fee-simple development sites with prime locations in Honolulu, between the Ala Moana Shopping Center and the Ward retail center. Norbert Buelsing, president of A&B Properties, tells GlobeSt.com that the purchase price for both parcels was $16 million.

The first site, comprising 1.7 acres, is located on Waimanu Street adjacent to the Hawai‘iki and Ko‘olani condominium towers, and is approved for a 43-story residential condominium project. The second site, in close proximity to the first site, is a 0.7-acre parcel located at the intersection of Kona and Piikoi streets, and is entitled for an eight-story residential condominium project.

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