SAN FRANCISCO, Aug. 4 /PRNewswire-FirstCall/ -- AMB Property Corporation(R) (NYSE: AMB), a leading global owner, operator and developer of industrial real estate, today announced it has leased more than 327,000 square feet (30,400 square meters) of its AMB Kasugai Distribution Center development in Nagoya to Japanet Takata, one of the largest direct-marketing and TV-shopping companies in Japan.
"We are very pleased to welcome this important new customer to AMB Kasugai Distribution Center, which meets their needs for a strategic location and a highly functional facility," said Michael A. Evans, AMB's managing director, Asia. "This transaction is a prime example of the continued need for quality distribution and logistics facilities supporting Japan's ongoing reconfiguration to a modern supply chain."
"Japanet Takata, in line with its policy of keeping operations in-house, has decided to consolidate two existing logistics facilities into the highly efficient AMB Kasugai Distribution Center, which will enable us to handle twice our current sales volumes," said Akira Takata, Japanet Takata's president.
AMB Kasugai Distribution Center, a 986,000 square foot (91,600 square meter) multistory development, is located in the Akechi-Kasugai industrial area of Nagoya. Earlier this year, it was the first logistics facility to receive the highest ranking of certification by the Comprehensive Assessment System for Building Environmental Efficiency (CASBEE) for sustainable building design.
As of June 30, 2009, AMB's portfolio of operating and development properties in Asia totaled approximately 16.2 million square feet (1.5 million square meters), of which more than 10.5 million square feet (976,800 square meters) is located in Japan.
AMB Property Corporation.(R) Local partner to global trade.(TM)
AMB Property Corporation(R) is a leading owner, operator and developer of industrial real estate, focused on major hub and gateway distribution markets in the Americas, Europe and Asia.
As of June 30, 2009, AMB owned, or had investments in, on a consolidated basis or
through unconsolidated joint ventures, properties and development projects expected to total approximately 156.9 million square feet (14.6 million square meters) in 48 markets within
14 countries. AMB invests in properties located predominantly in the infill submarkets of its targeted markets. The company's portfolio is comprised of High Throughput Distribution(R) facilities--industrial properties built for speed and located near airports, seaports and ground transportation systems.
AMB's press releases are available on the company website at www.amb.com or by contacting the Investor Relations department at +1 415 394 9000.
