Posted at 9:49 a.m., Monday, March 5, 2007
A&B Properties buys Texas shopping center for $13.6M
Advertiser Staff
A&B Properties Inc. and related companies paid $13.6 million to purchase a shopping center near Dallas.The acquisition of Royal MacArthur Center, funded with Section 1031 tax-deferred proceeds, represented a continuation of A&B Properties' commercial portfolio expansion efforts.
"Royal MacArthur Center adds an upscale component to our Dallas portfolio, which currently includes Preston Park, an office complex in Plano. This furthers our efforts to expand the earnings of our portfolio," Norbert M. Buelsing, executive vice president of A&B Properties, Inc.
The 43,600 square-foot shopping center is located on an eight-acre parcel 11 miles from downtown Dallas. A&B Properties is a subsidiary of Alexander & Baldwin Inc.
