Alexander & Baldwin Inc. has increased its ownership of industrial property in Kapolei with the purchase of a warehouse complex for $26.5 million.

The Honolulu-based real estate investment trust announced Monday that it bought Kapolei Enterprise Center, a 93,000-square-foot warehouse complex that opened last month and is leased to electronics retailer Best Buy and local distribution firm Hawaii Transfer Co.

A&B earlier in the year paid $40 million for a 150,000-square-foot warehouse in Kapolei mostly leased by national moving company Covan. A&B also owns the 35-acre Komohana Industrial Park, which includes 238,300 square feet of warehouse space in Kapolei.

The two recent purchases were made with proceeds from A&B’s December sale of 41,000 acres of Maui farmland for $262 million.