Alexander & Baldwin
said Tuesday that it is partnering with Intertex for a retail power center in Bakersfield, Calif.
The Honolulu-based company said that the partners closed on Nov. 22 the purchase of a 57-acre vacant commercial-zoned parcel in Bakersfield for $15 million.
The construction, which is expected to commence early 2008, would take 12 months to complete, the company said. Total cost of the project is estimated at $90 million.
Shares of the company were down a penny at $43.53 Tuesday.
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