A&B Properties Promotes Lance K. Parker to Senior Vice President
HONOLULU – (June 25, 2013) – A&B Properties, Inc., the real estate subsidiary of Alexander & Baldwin, Inc. (NYSE: ALEX) (“Company” or “A&B”), announced today that effective June 24, it has promoted Lance K. Parker to senior vice president, acquisitions & dispositions and principal broker. Parker will continue to report to A&B President and Chief Operating Officer Christopher J. Benjamin.
"We are pleased to recognize Lance with this promotion. He has been integral to the success of the Company’s real estate business and particularly the execution of A&B’s strategy to migrate our commercial portfolio back to Hawaii,” said Christopher J. Benjamin, A&B president & chief operating officer. “Since his appointment to head of commercial acquisitions in January 2012, he has been responsible for the completion and announcement of $203 million in new Hawaii real estate acquisitions. These acquisitions, which include Waianae Mall and Napili Plaza, as well as the announcement to acquire Pearl Highlands Center, will have added over half-a-million square feet of commercial square footage to A&B’s Hawaii portfolio.”
“In addition to Lance’s contributions within A&B, he is increasingly becoming an ambassador for the Company in the real estate and broader communities, including his work with professional associations and non-profit organizations,” Benjamin added. “We are proud of his past contributions to the growth of our real estate business and look forward to his continued leadership."
Parker is responsible for the implementation of A&B Properties' strategic growth initiative of acquiring and investing in income producing properties in Hawaii, while selectively disposing of assets, primarily on the mainland, to fund these acquisitions. He is the principal broker for A&B and is a licensed real estate broker in Hawaii. He is also a Certified Commercial Investment Member (CCIM) and a board member of Historic Hawaii Foundation and Hawaii Developers’ Council.
Parker joined A&B Properties, Inc. in October 2004 as project manager, acquisitions and was named director, acquisitions in April 2006, and vice president, acquisitions in July 2007. Prior to A&B, Parker was associate vice president at Grubb & Ellis Commercial Real Estate in Anaheim. He earned his bachelor's degree in business administration from the University of Southern California, where he majored in real property development and management. Parker is a graduate of Kamehameha Schools.
ABOUT A&B PROPERTIES
A&B Properties is the real estate subsidiary of Alexander & Baldwin, Inc., Hawaii's fourth largest private landowner, holding over 87,000 acres primarily on the islands of Maui and Kauai. A&B Properties' diverse real estate holdings include projects on Oahu, Maui, Kauai, the Big Island and in California, and a commercial property/investment portfolio of 47 properties located in Hawaii and eight mainland states comprising eight million square feet of retail, office and industrial space. Additional information may be found at A&B Properties' web site, www.abprop.com.
ABOUT ALEXANDER & BALDWIN
Alexander & Baldwin, Inc. is a premier Hawaii land company, with interests in real estate development, commercial real estate and agriculture. With ownership of over 87,000 acres in Hawaii, A&B is the state’s fourth largest private landowner, and is one of the state’s most active real estate investors. A&B has a diverse portfolio of real estate development projects throughout Hawaii, and a commercial property portfolio comprising eight million square feet of leasable space in Hawaii and on the U.S. mainland. It is also the owner and operator of the Hawaiian Commercial & Sugar plantation on Maui, and a significant provider of renewable energy on the islands of Maui and Kauai. Additional information about A&B may be found at www.alexanderbaldwin.com.
Statements in this press release that are not historical facts are “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with pages 18-28 of Alexander & Baldwin, Inc.’s 2012 Form 10-K and other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release. We do not undertake any obligation to update our forward-looking statements.