A&B Properties, Inc (ALEX) announced the selling of Boardwalk Shopping Center retail center on 21 acres in Round Rock, Texas to affiliates of Gemini Real Estate Advisors, LLC. The sale of 184,600 square-foot property was closed on August 21. A&B expects to invest the net proceeds in a previously acquired logistics warehouse facility in Savannah, Georgia and other replacement properties.
Further to the sale, A&B Properties' commercial property/investment portfolio will comprise 7.3 million square feet of retail, office and industrial space located in Hawaii and eight mainland states, including six retail, office and industrial properties in Texas.
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