AMB says it has leased roughly 420,900 sq. ft. of AMB Sendai-Tagajo Distribution Center in Japan to four tenants, stabilizing company's legacy development portfolio in Asia
May 2, 2011
– AMB Property Corporation® (NYSE: AMB), a leading owner, operator and developer of global industrial real estate, today announced it has leased approximately 420,900 square feet (39,100 square meters) of AMB Sendai-Tagajo Distribution Center to four tenants, thereby stabilizing the company’s entire legacy development portfolio in Asia, including projects in China, Japan and Korea.
“Companies in Japan, now more than ever, are seeking Class A logistics space,” said Michael Evans, AMB’s managing director, Asia. “This flight to quality is leading to an increase in inquiries and leasing velocity, and we are pleased to be able to accommodate.”
As of March 31, 2011, AMB’s portfolio in Asia totals approximately [19.2] million square feet ([1.8] million square meters) of operating and development properties.
AMB Property Corporation.® Local partner to global trade.™
AMB Property Corporation® is a leading owner, operator and developer of industrial real estate, focused on major hub and gateway distribution markets in the Americas, Europe and Asia. As of March 31, 2011, AMB owned, or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 161 million square feet (15 million square meters) in 49 markets within 15 countries. AMB invests in properties located predominantly in the infill submarkets of its targeted markets. The company's portfolio is comprised of High Throughput Distribution® facilities—industrial properties built for speed and located near airports, seaports and ground transportation systems.