(Source: PRNewswire-FirstCall)
SAN FRANCISCO, Sept. 1 /PRNewswire-FirstCall/ -- AMB Property Corporation , a leading global owner, operator and developer of industrial real estate, today announced it has leased approximately 65,000 square feet (6,000 square meters) in AMB Port of Rouen, a development in its Paris market, which is now fully leased. This new lease with Lincoln Electric, a leading manufacturer of welding equipment, in conjunction with the previously announced 210,000 square feet (19,500 square meters) of leasing to Schenker France and Necotrans, brings the 275,000 square foot (25,500 square meter) project to 100 percent leased a month before completion of development.
The Port of Rouen occupies a strategic position within France and provides rapid access to major economic centers in the region through a vast highway network, a dense railway system and two major airports, Roissy and Orly.
"The geographic position of the Port of Rouen, between Paris and Le Havre, makes it extremely important to our global customer base - the leaders in distribution, logistics and retail," said Francois Rispe, AMB's vice president, general manager, France. "Working with the port to achieve its economic development goals we were able to deliver state-of-the-art distribution facilities to meet our customers requirements, while mitigating risk by pre-leasing the entire facility."
"We are pleased to welcome Lincoln Electric to our portfolio," said Mo Barzegar, AMB's managing director, Europe. "Our ability to attract this valued new customer to AMB Port of Rouen further underscores the strength of the location and the quality of the development. The facility attracts customers who want to diversify logistics networks throughout the Seine River Valley."
"Given the proximity to our French headquarters, AMB's facility is an ideal fit and in line with our strategy to strengthen our market position through increasing customer service and efficiencies," said Michel Jany, Operations Director, Lincoln Electric, France.
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 properties, of which approximately 4.8 million square feet (445,700 square meters) is located in France.
AMB Property Corporation. Local partner to global trade.(TM)
AMB Property Corporation 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.
