AMB Property Corp. (AMB), a leading real estate investment trust (REIT), has recently signed leasing agreements for approximately 271,000 square feet in Mexico, signifying the probable redemption of investor confidence across the country.
About 118,000 square feet were leased in Monterrey in northeast Mexico by Arauco Distribucion Mexico, the Mexican subsidiary of Arauco – a wood pulp and forestry enterprise in Chile. As part of its expansion strategy in the Latin American markets, Arauco also leased 120,000 square feet of space in Guadalajara in the western Pacific area of Mexico. Besides the Arauco leases, AMB had leased 33,000 square feet in Monterrey to a premier logistics company in the country.
With the lease, AMB has strengthened its competitive position in the market. In addition, the company has strategically partnered with a single partner in multiple locations in order to increase its flexibility and enhance operational efficiency.
Based in San Francisco, AMB is a leading global owner, operator and developer of industrial real estate in North America, Asia and Europe. By the end of the second quarter, AMB had 156.9 million square feet of operating and development facilities across the globe, out of which 9.8 million square feet were located in Mexico.
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