04:34 PM EDT, 09/23/2024 (MT Newswires) -- Alexander & Baldwin Holdings (ALEX) said Monday that it completed the off-market acquisition of a 81,500 square foot food distribution facility in Pearl City, O'ahu, for $29.7 million.

The facility is fully leased to C&S Wholesale Grocers' Hansen Distribution unit, according to Alexander & Baldwin.

"We expect this investment to be immediately accretive to Funds From Operations," president and CEO Lance Parker said.