Alexander & Baldwin, Inc. is a real estate investment trust (REIT). The Company operates through two segments: Commercial Real Estate and Land Operations. The Commercial Real Estate segment functions as a vertically integrated commercial real estate company with core competencies in investments and acquisitions; construction and development; and in-house leasing and property management. The Land Operations segment includes Company’s assets, landholdings, and liabilities that are subject to the Company’s simplification and monetization effort. Its business objective is to own and effectively operate a superior portfolio of commercial real estate properties in Hawaii. The Company’s commercial real estate portfolio resides entirely in Hawaii and consists of approximately 22 retail centers, 12 industrial assets and over four office properties, representing a total of approximately 3.9 million square feet of gross leasable area (GLA), as well as 140.7 acres of land underground leases.