AMB Leases in Tokyo - Analyst Blog
Amid signs of market stabilization, AMB Property Corp. (AMB), a leading real estate investment trust (REIT), has recently leased approximately 157,200 square feet of its development portfolio at AMB Tsurumi Distribution Center in Tokyo for an undisclosed amount.
With the lease, the facility is currently 93% leased. AMB Tsurumi Distribution Center is strategically located in close proximity of the ports of Yokohama and Kawasaki, Haneda Airport and major highways. The leased facility also has an "A" ranking for an existing building by Comprehensive Assessment System for Building Environmental Efficiency (CASBEE) that promotes the sustainability of businesses. The CASBEE assesses a building's ability to minimize environmental impact through energy conservation, resource saving and recycling, as well as its environmental quality and performance such as workspace comfort and consideration for natural surroundings.
With continued leasing in Asia, AMB has strengthened its competitive position in the continent. Based in San Francisco, the company is a leading global owner, operator and developer of industrial real estate in North America, Asia and Europe. By the end of the third quarter of 2009, AMB had 156.1 million square feet of operating and development facilities across the globe, out of which 16.1 million square feet and over 10.5 million square feet were located in Asia and Japan, respectively.
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