Alexander & Baldwin Inc. hopes to cash in on upgrades it made to Mililani Shopping Center by selling the mall seven years after acquiring the property.

A&B is asking $55 million for the mall, compared with the roughly $30 million it paid in 2002.
The 180,300-square-foot center is 99 percent occupied with about 50 tenants, according to Colliers Monroe Friedlander, which is marketing the property for A&B.
Mililani Shopping Center was the first of three shopping malls in the Central Oçahu community when it opened in 1970, and is the second-largest mall in the area today.
Honolulu-based A&B said it has made substantial improvements to the center since buying the property from Japan’s Morita Co.