AMB Property Inks 267,000-SF Industrial Deal in Shanghai

Source: AMB Property

 

AMB Property Corporation has pre-leased more than 267,000 square feet (approximately 24,800 square meters) at AMB Beilun Port Distribution Center, a development located in the Ningbo Economic & Technological Development Zone (NETDZ), one of China's premier business and port areas.

Globe Express Service Co., Ltd., a third-party logistics company with global operations, and Ningbo Ruiyuan Logistics Company, a container consolidation operator, have leased approximately 139,000 square feet (12,900 square meters) and 128,000 square feet (11,900 square meters), respectively. The facility will serve as a global distribution center for a European retail customer of Globe Express.

"Ningbo continues to be one of the strongest ports in the world with more than 17 percent cargo growth year-to-date," said Guy F. Jaquier, AMB's president, Europe & Asia. "Our success in this key global trade market is underscored by strong leasing activity at our AMB Beilun Port Distribution Center development prior to completion of construction.”

As of September 30, 2008, AMB's Asia presence totaled more than 14.6 million square feet (approximately 1.4 million square meters). AMB's China portfolio totals more than 2.6 million square feet (approximately 241,900 square meters) of operating and development properties.