Posted on: Friday, September 5, 2003

BUSINESS BRIEFS
Gas rises again to O'ahu record

Advertiser Staff

The average price of regular gasoline in Honolulu rose nearly a penny to another record high of $2.043 yesterday, according to the AAA travel club. Higher prices on O'ahu come amid an increase in demand caused by the bus workers strike.

Although the city average was above $2.04, prices below $2 a gallon could be found by shopping around. At Lex Brodie's Tire downtown on Queen Street the price was $1.98, and at Aloha Petroleum on Wai'alae Avenue in Kahala regular was selling for $1.99 a gallon yesterday.

Statewide, the average price for a gallon of gasoline was $2.108, compared with a high of $2.119 set Tuesday.

A&B purchases Utah complex

Alexander & Baldwin Inc. has purchased an industrial complex in Salt Lake City for $8 million, diversifying its real estate portfolio with its first investment in Utah.

The purchase, made by subsidiary A&B Properties Inc., was part of a tax-deferred exchange using proceeds from other properties sold by A&B.

Honolulu-based A&B said the 244,000-square-foot complex known as Centennial Plaza is 90 percent leased and in an area poised for an industrial real estate recovery.