AMB Property Corp. (AMB), a leading real estate investment trust (REIT), has recently leased approximately 455,200 square feet of its development portfolio in China to three unnamed third-party logistics providers and an electronic solutions company. The lessees will occupy the space in AMB Guangzhou Development Zone Logistics Center, a multi-story business park located in Guangzhou — the third largest city in China.
 
The Class-A facility spanning 1 million square feet is currently over 50% leased. Construction work on the development property is scheduled to be completed by the second quarter of 2010. The leased property has all the state-of-the-art facilities and was selected as the Best in the Industrial Logistics Sector by the Guangzhou Logistics Association. Consequently, the site provides strong growth potential to the unnamed lessees.
 
AMB is a leading industrial real estate company with a strong portfolio of warehouses and distribution facilities in some of the busiest distribution markets of the globe. The company’s properties are located in supply-constrained infill markets in close proximity to airports, seaports, and ground transportation facilities, which enable swift distribution of customers’ products.
 
AMB operates as a vertically integrated company and enjoys large economies of scale. It possesses an extensive knowledge of domestic and international industrial real estate markets. By the end of the first quarter of 2010, the company had 155.7 million square feet of operating and development facilities across the globe, out of which 16.2 million square feet were located in Asia.
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