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A&B Properties Acquires Preston Park

Plano Developer Sells 2-Bldg. Complex for $25 Million
By Brandi Pinkston
July 12, 2006 | 2:44 P.M.

Honolulu, HI-based A&B Properties Inc., the real estate subsidiary of Alexander & Baldwin Inc., acquired the Preston Park office complex in Plano, TX from Plano-based developer Hepfner, Smith, Airhart & Day. The two-building complex sold for $25 million, or approximately $118 per square foot, in an off-market transaction.

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