Alexander & Baldwin Inc. announced that it has bought a large California warehouse complex as part of a continuing strategy to acquire logistics-oriented assets in emerging industrial markets.

The project in Visalia, Calif., comprises four buildings with a combined 790,370 square feet of space within a 480-acre master-planned logistics park called Midstate 99 Distribution Center.

A purchase price was not disclosed. A&B said it used tax-deferred proceeds from prior real estate sales to make the acquisition, along with assuming debt on the property.

A&B said the four buildings, which collectively have retail and wholesale tenants leasing 94 percent of the project, were constructed from 2001 to 2008 by San Diego-based industrial development firm The Allen Group.

The purchase brings A&B's commercial investment property portfolio to 7.9 million square feet of retail, office and industrial space in Hawai'i and eight Mainland states.