HONOLULU—Alexander & Baldwin Inc. has completed the sale of the Mililani Shopping Center for $50 million.
Its real estate subsidiary, A&B Properties, also said Monday that it has acquired the 216,400 square-foot Meadows on the Parkway Shopping Center in Boulder, Colo., for $31 million.
The Mililani Shopping Center is a 180,300 square-foot retail center located in Central Oahu.
A&B Properties President Norbert Buelsing says there has been a 39 percent increase in net rent and a 66 percent increase in average tenant sales, while average occupancy has been maintained at 98 percent since it acquired the center eight years ago.
Meantime, A&B says no major overhaul is planned for Meadows on the Parkway.
A California company paid $15 million for it in 1990.
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With information from: Camera,
