Apeak-Led Partnership Closes On Waikapu Warehouse Development Parcel

Apeak Invest, in partnership with a select group of investors, has closed on the purchase of 21,388 sf of M-1 light-industrial zoned land in the Waikapu-Wailuku industrial subdivision of Consolidated Baseyards. The land purchase is the second for Apeak in 2021 as the company expands further into warehouse development on Maui. The project will be built on the back of a robust local industrial market with limited available land for development, a persistently low sub-2% vacancy rate, and a lack of newer functional high-cube modern warehouse inventory on island.

Consolidated Baseyards sit uniquely positioned off Kuihelani Highway, a prominent thoroughfare connecting Central Maui to West Maui, approximately 5 miles from Kahului Airport. For tenants looking to avoid traffic congestion in town and position themselves proximate to all major markets of Maui, the location is ideal. Vacancy tends to run low in the subdivision which is anchored by major market participants including DHX, Pacific Source and Tri-Isle Trucking.

Apeak is excited for this opportunity to deliver a modern, functional, high-cube industrial project to the market. Should the schedule line up, delivery of the 2,100 sf individual warehouse units might come as soon as early 2023. Apeak’s blog will keep readers up to speed on the progress of this development. All leasing inquires should be directed to Andrew Estes at andrew@apeakinvest.com.