Tech vendors bill advances
A measure to help Hawai'i technology vendors win state contracts is progressing through the Legislature.
The bill would let local vendors for small contracts under $25,000 disregard state excise and use taxes when bidding on state contracts. The change would help computer equipment suppliers, who often lose contracts to Mainland providers offering identical products. That's because the Mainland companies don't have to pay state taxes, giving them about a 6 percent price advantage.
Senate Bill 686 has passed the Senate and will be heard by the House Finance Committee. A similar House bill is now in the Senate awaiting a hearing.
A&B buys office building in Calif.
Alexander & Baldwin Inc. has bought a 51,000-square-foot office building in Valencia, Calif., for an undisclosed price from developer Intertex Properties.
The fully occupied, new two-story building, acquired by A&B's real estate subsidiary, follows a January deal in which A&B is partnering with an Intertex affiliate to develop a 64,300-square-foot office building in Valencia, which is expected to be complete in December.
Baywest buys warehouse
Baywest Equities, a private real estate investment company based in Honolulu and San Francisco, has purchased a $17.2 million supermarket warehouse in Colton, Calif.
Earlier this year the company acquired three other California industrial properties for $27 million.