From Sugar Cane to REIT: How Hawaii’s A&B Inc. is Finding Value by Saving Energy
At nearly 150 years old, Alexander & Baldwin Inc. (A&B Inc.) knows something about longevity. The largest owner of grocery/drug-anchored retail centers in Hawaii was founded as one of the first ever corporations in the state. What started as a small sugar cane growing enterprise quickly expanded into an agricultural, shipping and real estate powerhouse. At one time its subsidiaries included or still include coffee and sugar cane growing, shipping (those Matson lego-like containers you see bobbing on ships along many West Coast ports) and A&B Properties, a newly minted Real Estate Investment Trust (REIT).
Over many decades of growth, A&B Inc. has remained committed to supporting its local communities, through giving, community programs and environmental stewardship. Recently, A&B Properties, which owns, operates and manages 4.7 million square feet of retail, industrial and office space, partnered with Carbon Lighthouse to reduce energy consumption at a few well-known Oahu retail centers.
Through our process called Efficiency Production the energy efficiency initiatives that we’ll complete in just a few weeks at the shopping centers are expected to result in a total lifetime reduction of more than 9,700 tons of carbon, equivalent to conserving over 22,600 barrels of oil. That’s pretty significant for the remote island chain, which remains the only state in the nation that burns oil for electricity.
Want to learn more about our partnership? Read more below.