A&B buys DC near Port of Houston
Alexander & Baldwin has acquired a 313,000-square-foot warehouse near the Port of Houston's two major container terminals.
'The acquisition of Republic Distribution Center extends our emerging investment strategy of acquiring logistics-oriented warehouse facilities in key domestic transportation nodes,' said Allen Doane, chairman and chief executive officer of Honolulu-based A&B. 'Coupled with recent acquisitions of industrial facilities in Savannah and Dallas, and a warehousing and distribution company in San Francisco Bay, we have added well over 3 million square feet of warehouse capacity to our national portfolio.'
Construction of RDS was completed in 2007 by Johnson Development Associates, a South Carolina-based company. The cross-dock facility includes 44 dock-high doors and 46 trailer storage spaces and is nearly 50 percent leased to a regional third-party logistics firm.
With this acquisition, A&B Properties is comprised of 7.2 million square feet of retail, office and industrial space located in Hawaii (22 properties), and eight mainland states (23 properties).