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ONTARIO, CA-A&B Properties Inc. has sold its 898,400-square-foot Ontario Distribution Center for $43 million and plans to apply the proceeds to a 1031 exchange. A&B, which is the real estate subsidiary of publicly held Alexander & Baldwin Inc., acquired the three-building industrial park in 2000 for $27 million. Located on 38 acres at 5400-5450 E. Francis St., the project achieved a 97% average occupancy during A&B’s 10-year ownership, according to Norbert M. Buelsing, president of A&B Properties.

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