A&B Properties Sells Los Angeles Warehouse
2009年9月16日 - 9:00PM
ビジネスワイヤ(英語)
A&B Properties, Inc., the real estate subsidiary of
Alexander & Baldwin, Inc. (NYSE:ALEX) (“A&B”), announced
today that it has completed the sale of a 126,000 square-foot
industrial warehouse on San Jose Avenue in the City of Industry,
California.
“We continue to realize favorable pricing for quality, stable
properties,” said Norbert M. Buelsing, president of A&B
Properties. “A recent lease extension agreement with the tenant
occupying this warehouse, coupled with its central location in a
prominent industrial and commercial submarket of Los Angeles,
positioned us well for the disposition. We continue apace with
A&B’s core investment strategy of tax-effectively redeploying
real estate sales proceeds into new commercial property investments
with favorable growth prospects.”
The property is located in the City of Industry in the San
Gabriel Valley section of Los Angeles, California, and offers
immediate access to the Pomona (SR-60) and San Bernardino (I-10)
freeways, two major arterials in Los Angeles.
With the sale of this property, A&B Properties’ commercial
property/investment portfolio consists of 8.5 million square feet
of retail, office and industrial space located in Hawaii and eight
U.S. mainland states. Additional information about A&B
Properties, Inc. may be found at its web site: www.abprop.com.
About Alexander &
Baldwin: A&B is headquartered in Honolulu, Hawaii and is
engaged in ocean transportation and logistics services through its
subsidiaries, Matson Navigation Company, Inc., Matson Integrated
Logistics, Inc. and Matson Global Distribution Services; in real
estate through A&B Properties, Inc.; and in agribusiness
through Hawaiian Commercial & Sugar Company and Kauai Coffee
Company, Inc. Additional information about A&B may be found at
its web site: www.alexanderbaldwin.com.
Statements in this press release that are not historical facts
are “forward-looking statements,” within the meaning of the Private
Securities Litigation Reform Act of 1995, that involve a number of
risks and uncertainties that could cause actual results to differ
materially from those contemplated by the relevant forward-looking
statement. These forward-looking statements are not guarantees of
future performance. This release should be read in conjunction with
our Annual Report on Form 10-K and our other filings with the SEC
through the date of this release, which identify important factors
that could affect the forward-looking statements in this
release.
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