HONOLULU—Dole Food Co., Inc. plans to sell most of its 24,700 undeveloped acres of Hawaii, and has listed some of it with CBRE Group Hawaii.
The Los Angeles-based company said in its annual report, released Tuesday, that it actively marketing about 20,600 acres of land that it currently not in agriculture production, says the Pacific Business Journal.
Dole is hoping to get between $175 million and $200 million for its Hawaii holdings. The company expects to take a few years to sell the lands. Dole's land holdings in Hawaii are located in Central Oahu and on the North Shore, of which about 16,500 acres are listed for sale with CBRE Group Inc. Hawaii.
Last June, Dole Chairman David Murdock sold 98 percent of the island of Lanai to fellow billionaire Larry Ellison, CEO of Oracle Corp. (Nasdaq: ORCL) for an estimated $500 million.
Click Pacific Business Journal to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
