AMB Property Corp. (AMB), a leading real estate investment trust (REIT), has recently signed leasing agreements for approximately 202,200 square feet at AMB I-81 Distribution Center in Harrisburg, Pennsylvania, amid signs of market stabilization. The deal was signed with a leading supplier of a home improvement retailer.
The leased facility is strategically located in close proximity to an interstate network with easy access to all the major East Coast cities, and enables suppliers to ship goods across the Mid-Atlantic and upper Mid-West in less than a day’s drive. Consequently, the site provides strong growth potential to the unnamed lessee. In addition, the leased property has all the state-of-the-art facilities and serves as a role model for industrial development in the region.
AMB is a premier industrial real estate company, with a strong portfolio of warehouses and distribution facilities in some of the busiest distribution markets in the world. The company’s properties are located in supply-constrained infill markets at close proximity to airports, seaports and ground transportation facilities, which enables the swift distribution of customers’ products.
AMB has two lines of businesses: real estate operations, which involve the long-term ownership and operations of industrial properties; and private capital, which provides portfolio management and reporting services to joint venture partners. The company earns acquisition, development and asset management fees in addition to priority distributions and promoted interest from the private capital business.
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