A&B sells industrial park in Washington for $15.5 million
A&B Properties said today that it has completed a $15.5 million sale of Valley Freeway Corporate Park.
The property is a 228,200-square-foot, three-building industrial park in Kent, Wash.
"We achieved a favorable sales price for Valley Freeway Corporate Park, which reflects the continued demand for well-located industrial properties and A&B's success in maintaining the quality and performance of this asset," A&B Porperties president Norbert Buelsing said in a statement.
A&B Properties, the real estate subsidiary of Alexander & Baldwin, said proceeds are expected to be used to buy other commercial real estate with favorable growth prospects.