Servco Buys 4-acre Site At A&B Properties' Maui Business Park For $8.2 Mln

(RTTNews) - A&B Properties, Inc., the real estate subsidiary of Alexander & Baldwin, Inc. (AXB, ALEX), and Hawaii-based automotive company Servco Pacific Inc., said that A&B Properties' Maui Business Park II will be the site of Servco's newest Lexus and Subaru auto dealerships on Maui.

The purchase of a 4-acre site within the park for $8.2 million closed today. Construction is scheduled to start in 2016, with completion scheduled in 2017.

Maui Business Park II is located in Kahului, Maui near Kahului Airport. It is the second phase of a commercial light industrial/retail park developed by A&B Properties and covers 179 acres, and will soon be the home of Maui's first Target store, which is scheduled to open in March.

Phase I of Maui Business Park is the home of Walmart, Home Depot, Costco, Lowe's, Sports Authority, Office Max, and Pier1 Imports.