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A&B selling Maui Mall

By Erika Engle

LAST UPDATED: 11:45 a.m. HST, Nov 22, 2013

A&B Properties, Inc. is selling Maui Mall for undisclosed terms.

The company has just announced the deal to sell the mall to a partnership of Denver-based Alberta Development Partners and an affiliate of Chicago-based Walton Street Capital LLC.

The Kahului mall is anchored by Whole Foods Market, Longs Drugs, Wallace Theaters and IHOP and was originally developed by A&B in 1971.

It is 95 percent occupied.

Alexander & Baldwin Inc. announced Wednesday it is buying the Oahu land assets of Kaneohe Ranch Co. and the Harold K.L. Castle Foundation for $373 million. The purchase includes most of Kailua's retail district. The transactions are expected to close in late December 2013.

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1local wrote:
more potential growth for Kailua development.
on November 22,2013 | 11:06AM
cojef wrote:
Yep, and might as well use the Capital Gain advantage on the Maui property on the sale, and then use the proceed to help pay for the Kailua property since as you indicate it has further growth potential.
on November 22,2013 | 11:36AM
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