A&B buys
Texas center
for $16.6 million

Star-Bulletin staff

Alexander & Baldwin Inc. continued its expansion in the Lone Star state, with the purchase of a San Antonio shopping center for $16.6 million.

Honolulu-based A&B yesterday said it had bought the recently opened Arbor Park Shopping Center from Trammell Crow Inc. The 140,000-square-foot center sits on 14.6 acres in north San Antonio.

"This acquisition brings the company's portfolio of commercial properties in Hawaii and on the U.S. mainland to 3.4 million square feet of leasable retail, office and industrial space," said W. Allen Doane, A&B's president and chief executive officer,

The Arbor Park deal was the third commercial property purchase in San Antonio by A&B and its subsidiaries, which in the past year also have bought office properties in Sacramento, Calif., and Phoenix.

Last year, A&B had several commercial property purchases on the mainland, including in California, Colorado and Washington.