The property to be acquired by HRPT Properties Trust includes 41 parcels that are 95 percent leased to 60 tenants for an average remaining lease term of 15 years. The tenants include affiliates of Tesoro Corp., and AES Corp.

HRPT estimates that the current annual net operating income from the property will be $8.7 million.

The acquisition will boost HRPT's industrial land holdings on O'ahu to 412 acres, making it one of the largest industrial land owners in the state.

PONO taking applications for leadership program

Applications for the Promoting Outstanding Nonprofit Organizations (PONO) Leadership Program are being accepted. Deadline is Feb. 28.

This is the third year the Hawai'i Community Foundation will offer PONO to Hawai'i nonprofit leaders; it will be the first year of a three-year commitment by The Case Foundation to co-sponsor the program.

Applicants must have executive-level management experience, show strong interest in learning, have a commitment to the nonprofit sector and demonstrate the ability to creatively solve problems.

Applications can be downloaded at www.hawaiicommunityfoundation.org. Submit completed applications to: Hawai'i Community Foundation, PONO Leadership Program, 1164 Bishop St., Suite 800, Honolulu HI 96813. For more information call 537-6333 or (888) 731-3863.

Telecom luncheon set for Feb. 23

The Hawai'i Telecommunications Association is hosting its February luncheon on Feb. 23 at the Hale Koa Hotel, Waikiki Ballroom.

The topic will be "Enabling the Real-time Enterprise: Migration from Mainframe to Java."

Soren Burkhart, senior vice president and chief information officer of Aloha Airlines, will discuss his 5-step approach to transforming a legacy mainframe environment to a dynamic real-time environment to be more responsive to customers' needs.