AMB Property Corporation (AMB), a leading real estate investment trust (REIT), has recently signed a leasing agreement for approximately 178,000 square feet in Mexico. The deal was signed with Summa Company, a premier food distribution and sales company.
The leased facility at AMB Los Altos Industrial Park is located in the El Salto industrial submarket area with a high population density and provides a dynamic market opportunity for Summa Company. The facility would be utilized by the lessee as a new distribution hub in the region to supplement its growth potential.
Furthermore, the site provides immediate access to the main ring highway connecting the facility to Guadalajara International Airport. Besides its prime location, the facility is situated in a fully enclosed, access-controlled region, which is essential for operating a business in Mexico. Currently, about 1.2 million square feet of AMB Los Altos Industrial Park is fully leased out of a total of 1.6 million square feet.
Industry focused REITs have been one of the worst performing sectors in 2009. With a sagging global GDP, demand for industrial space continues to dry up. However, AMB is better equipped than its peers to weather the current downturn due to its strong portfolio and continued leasing activities.
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