Article: A&B Properties Sells Honolulu Office Building for $38 Million.

Demand for Quality Properties Holds Strong, Strengthening Yen Bolsters Pricing

HONOLULU -- A&B Properties, Inc., the real estate subsidiary of Alexander & Baldwin, Inc. (NYSE:ALEX) ("A&B"), announced today that it has completed the sale of the Pacific Guardian Tower ("PGT"), a 130,600 square-foot office building in Honolulu, Hawaii to Maruito USA, Inc., the U.S. subsidiary of Japan-based Maruito Group, a financial services company.

"The sale of Pacific Guardian Tower is another clear signal of the continued demand for quality, stable income properties in Hawaii. Further, the favorable pricing we realized is a reflection of our efforts over the past ...

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