SAN FRANCISCO, Aug. 18 /PRNewswire-FirstCall/ -- AMB Property Corporation((R)) (NYSE: AMB), a leading global owner, operator and developer of industrial real estate, today announced it has signed two lease agreements for more than 102,000 square feet (9,500 square meters) in a development immediately adjacent to Madrid's Barajas International Airport (MAD).
The first agreement has been signed with Panalpina, a leading provider of forwarding and logistics services, who has leased approximately 59,000 square feet (5,500 square meters) in order to expand its operations in the Madrid market. The second agreement is with Newrest, a catering company with a dedicated in-flight division, who has leased more than 43,000 square feet (4,000 square meters) as their Spain and Portugal operations headquarters, flagship warehouse and food preparation facility.
"We are pleased to welcome these high-quality customers to our project. Panalpina is a top ten global AMB customer who now leases from us in nine markets, and Newrest is a valued new addition to our customer list," said Mo Barzegar, AMB's managing director, Europe.
AMB Barajas Logistics Park totals approximately 444,000 square feet (41,200 square meters). As of June 30, 2009, AMB's portfolio in Europe totaled more than 14 million square feet (1.3 million square meters) of operating and development facilities, including air cargo facilities at Amsterdam Airport Schiphol, Brussels Zaventem Airport, Charles de Gaulle International Airport in Paris, Frankfurt International Airport and Heathrow Airport in London, in addition to Madrid Barajas International Airport.
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.
