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A&B to buy Pearl Highlands Center

Alexander & Baldwin Inc. said it has agreed to buy Pearl Highlands Center on Oahu for $141.5 million.

The purchase, which is part of a strategy by the Honolulu-based company to acquire more income-producing real estate in Hawaii, is scheduled to close in the second half of this year, A&B announced today.

Pearl Highlands is anchored by Sam’s Club, Regal Theaters, Ross Dress for Less and 24 Hour Fitness. A Buffalo Wild Wings is slated to open soon.

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