Jones Lang LaSalle


AMB Property Corp. Launches $236M in Worldwide Projects
February 22, 2006
By Amanda Marsh, Staff Writer

Further increasing its global presence, AMB Property Corp. said that it has begun 2.4 million square feet worth of development in Osaka, Japan; Mexico City and Guadalajara, Mexico, and the acquisition of four industrial facilities in Germany, representing an aggregate investment of approximately $236 million.

AMB and local partner AMB BlackPint have started development of its second Osaka distribution center, AMB Amagasaki Distribution Center 2 (rendering pictured), which will total 982,000 square feet and is projected for completion with a total investment of $114.2 million. In Mexico City, AMB and local partner G. Accion began development of the first two buildings in its Trés Rios Industrial Park, the city's largest master-planned industrial park. When completed, the buildings will comprise approximately 940,000 square feet with a total investment of about $55 million. In Guadalajara, the company joined forces with G. Accion again to start development of Arrayanes Building 2 in San Jorge Industrial Park, with 474,000 square feet and an investment total of $19.8 million.

"We follow our customers (who are) members of a global supply chain," AMB executive vice president, president Europe & Asia Guy Jaquier told CPN this afternoon. These key hubs are important to the company because "these are where the boxes stop moving; they need real estate."

AMB's international presence was further expanded with the acquisition of four distribution facilities at the Port of Hamburg in Germany, Europe's second busiest port, aggregating approximately 561,000 square feet for a total price of approximately $47 million. This purchase established the company as one of the largest third-party logistics property owners at the port, with 1.4 million square feet of developments in process and operating facilities.