AMB Leases in Miami - Analyst Blog

AMB Property Corp. (AMB), a leading real estate investment trust (REIT), has recently leased 124,700 square feet of its development portfolio in AMB Beacon Lakes Building 12 in Miami, Florida, for an undisclosed amount. The unnamed lessees are among the premier freight forwarding companies in the U.S.

The leased facility is strategically located in close proximity to the Miami International Airport, which operates more international air freight than any other airport in the U.S. Furthermore, Miami serves as a vital gateway for goods coming from Europe and the Far East to Latin America, and for goods back from Latin America into the U.S. Consequently, the site provides strong growth potential to the lessees.

With the lease, the distribution facility is currently 100% leased. Over the past few quarters, AMB has witnessed a growing customer interest in its development portfolio across the globe. In addition, leasing decisions that were earlier postponed due to volatility in the markets are gradually coming off the shelf.

AMB is a leading industrial real estate company with a strong portfolio of warehouses and distribution facilities in some of the busiest distribution markets around 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 second quarter of 2010, AMB had 156.1 million square feet of operating and development facilities across the globe, out of which 8.5 million square feet are located in Florida, including 6.9 million square feet in Miami.