Mike Wright, A&B's vice president of acquisitions, tells GlobeSt.com that the project is expected to be completed in December of this year at an estimated cost of $12.3 million, with Intertex General Contractors Inc. of Valencia as the general contractor and a partner in the project. The building will be a three-story structure next to Valencia's newest residential development, the Westridge golf course community. The project, at the Golden State (I-5) Freeway and Valencia Boulevard, is being designed by Mag-Milo Architecture Group Inc. of San Diego.
Alexander & Baldwin has acquired properties in Southern California, but this is the company's first development here. Wright says the company expects to develop other projects in the region and is looking at joint ventures, primarily office and industrial projects. In Hawaii, A&B develops office, industrial, retail, condominium and single-family projects.
A&B owns 91,000 acres in Hawaii, making it the state's fifth-largest private landowner. The company also has an investment portfolio of commercial properties in Hawaii and on the US Mainland consisting of more than five million sf of retail, office and industrial space.
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