Posted on: Wednesday, February 2, 2005
BUSINESS BRIEFS
A&B acquires Daiei location
Advertiser Staff
Alexander & Baldwin Inc. yesterday became the new landlord of Daiei's Kaheka Street store, acquiring the fee-simple property leased to the Asian-oriented general merchandise and grocery retailer for $19.3 million.
The Honolulu-based real-estate, transportation and agriculture conglomerate said it acquired the 4-acre site for the rental income from Daiei and longer-term potential to redevelop the commercial- and residential-zoned site. Daiei's lease ends in 2018.
Verizon Wireless said yesterday that it spent $31 million on upgrades in Hawai'i last year aimed at improving call quality and coverage for its cellular phone customers. The upgrades include added cell sites to boost coverage in Waikiki, downtown Honolulu and Pearl City and on Maui and Kaua'i.
Verizon Wireless, which is owned by New York-based Verizon Communications Inc., is not involved in the pending sale of Verizon Hawaii, which is a separate subsidiary of Verizon Communications. Verizon Hawaii is in the process of being sold for $1.65 billion to The Carlyle Group.
Mark McGuffie was named executive director for the Hawai'i Island Economic Development Board.
McGuffie, a certified hotel administrator, began his career in 1970 at a luxury resort in the southwest of England. He also assisted the owners of Keauhou Beach Resort in Kona through a transition of management companies and as corporate director of operations overseeing operations at The Pacific Beach Hotel, Pagoda Hotel and King Kamehameha's Kona Beach Hotel.
Matson Terminals Inc. has completed the acquisition of certain assets of HT&T Stevedoring in Hilo and Kawaihae.
HT&T's 39 employees will transfer to a new division, which will be called Big Island Stevedores. As part of the agreement, Matson acquired various pieces of HT&T Stevedoring equipment such as forklifts, passenger vans and pickup trucks.
Matson Terminals is a unit of Matson Navigation Co. Inc., which is a wholly owned subsidiary of Alexander & Baldwin Inc.
Cellular regions receive upgrade
Nonprofit board names McGuffie
Transfer made in stevedoring
