Nov. 3, 2009 (PR Newswire) --
SAN FRANCISCO, Nov. 3 /PRNewswire-FirstCall/ -- AMB Property Corporation® (NYSE: AMB), a leading global owner, operator and developer of industrial real estate, today announced it has leased approximately 77,000 square feet (7,100 square meters) of its AMB Jiuting Distribution Center facility in Shanghai to Bus Logistics, bringing the more than 376,000 square foot (approximately 35,000 square meter) facility to more than 97 percent leased.
Bus Logistics of Shanghai and Yamato Transport Co., Ltd. of Japan are joint venturing to establish a distribution network in east China. AMB Jiuting Distribution Center will serve as the joint venture's first distribution base in China.
"AMB Jiuting Distribution Center's strategic location enables Yamato (China) Transport Co., Ltd. to access new markets and tap into demand generated by the country's stimulus package," said Kecheng Liu, vice chairman of the board of Bus Logistics.
"Our development was designed and strategically located to facilitate the rapid movement of goods making it well suited for 3PL activity," said Ben Cornish, AMB's managing director, China. "AMB partnered with Yamato (China) Transport Co., Ltd. to ensure their real estate requirements were met as they expand their business and contribute to regional development."
AMB's Asia portfolio totals approximately 16.2 million square feet (1.5 million square meters) of operating and development properties. AMB's operating portfolio in China is now approximately 92 percent leased.
AMB Property Corporation.® Local partner to global trade.(TM)
AMB Property Corporation® is a leading owner, operator and developer of global industrial real estate, focused on major hub and gateway distribution markets in the Americas, Europe and Asia. As of September 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 156.1 million square feet (14.5 million square meters) in 47 markets within 14 countries. AMB invests in properties located predominantly in the infill submarkets of its targeted markets. The company's portfolio comprises High Throughput Distribution® 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.
