Alexander Baldwin, Inc. Reports Second Quarter 2019 Results HONOLULU , Aug. 1, 2019 |PRNewswire| -- Alexander Baldwin, Inc. (NYSE: ALEX ) ("AB" or "Company") today announced financial results for the second quarter of 2019. Chris Benjamin , AB president chief executive officer, stated: "Our second quarter 2019 results reflect the continued success of our commercial real estate ("CRE") growth strategy as cash net operating income ("NOI") grew a remarkable 20.4% compared to the same quarter last year. The largest driver of this increase was the purchase in late 2018 and early 2019 of six Hawaii commercial assets and ground leases with proceeds from the sale of non-income-producing agricultural lands. The six assets are in the Company's preferred asset classes and will produce roughly $14.4 million of annualized NOI once fully stabilized next year." "Our existing portfolio also is performing extremely well. Same-store NOI ("SSNOI") increased by 6.1% compared to the same quarter last year, while leasing spreads for the quarter were 7.5%. The SSNOI growth was due largely to our successful repositioning efforts at Pearl Highlands Center and Kailua Retail.