AMB Property Corporation(R) Pre-Leases 525,000 SF at Toronto Development
2007年10月11日 - 6:54AM
PRニュース・ワイアー (英語)
Expands AMB's Presence in Key North American Distribution Market
SAN FRANCISCO, Oct. 10 /PRNewswire-FirstCall/ -- AMB Property
Corporation(R) (NYSE:AMB), a leading global developer and owner of
industrial real estate, today announced that it has pre-leased
525,000 square feet (48,000 square meters) of distribution space at
a new 1.1 million square foot (104,300 square meter) development
property in the airport submarket of the Greater Toronto Area
(GTA). "The property's proximity to the airport, the Trans-Canada
Highway, and major intermodal rail yards provides convenient access
to the GTA, and to significant portions of the Canadian consumer
base and U.S. population," said Gene Reilly, AMB's president, The
Americas. "With AMB Airport Road Distribution Centre, we are
growing our presence in one of North America's strongest
distribution markets. Market dynamics are compelling and
developable land sites that can accommodate a facility of this size
are rare," commented Jay Cornforth, AMB's managing director, East
Region. "We are pleased to welcome Vitran Logistics to the
facility." Vitran Logistics, a wholly-owned subsidiary of Vitran
Corporation Inc., a leading North American less-than-truckload
(LTL) and supply chain services provider, will use AMB Airport Road
Distribution Centre to expand operations for an existing client.
"Vitran Logistics was attracted to AMB Airport Road Distribution
Centre's central location and access to nearby major transportation
nodes," said Mike Glodziak, Vitran's president, Canadian and U.S.
Logistics. "Additionally, the facility meets our requirements for
superior functional design, security and operational efficiency, as
well as proximity to an excellent labor pool." AMB's Toronto market
portfolio now totals more than 2.7 million square feet (250,800
square meters) of operating and under development properties. AMB's
North America portfolio totaled more than 116.3 million square feet
(10.8 million square meters) of operating and under development
properties as of June 30, 2007. AMB Property Corporation.(R) Local
partner to global trade.(TM) AMB Property Corporation(R) is a
leading global developer and owner of industrial real estate,
focused on major hub and gateway distribution markets throughout
North America, Europe and Asia. As of June 30, 2007, AMB owned, or
had investments in, on a consolidated basis or through
unconsolidated joint ventures, properties and development projects
expected to total approximately 136.7 million square feet (12.7
million square meters) in 44 markets within 13 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 http://www.amb.com/ or by contacting the
Investor Relations department at +1 415 394 9000. Some of the
information included in this press release contains forward-looking
statements, such as the completion and occupation of AMB Airport
Road Distribution Centre, which are made pursuant to the
safe-harbor provisions of Section 21E of the Securities Exchange
Act of 1934, as amended, and Section 27A of the Securities Act of
1933, as amended. Because these forward-looking statements involve
risks and uncertainties, there are important factors that could
cause our actual results to differ materially from those in the
forward-looking statements, and you should not rely on the
forward-looking statements as predictions of future events. The
events or circumstances reflected in forward-looking statements
might not occur. You can identify forward-looking statements by the
use of forward-looking terminology such as "believes," "expects,"
"may," "will," "should," "seeks," "approximately," "intends,"
"plans," "pro forma," "estimates" or "anticipates" or the negative
of these words and phrases or similar words or phrases. You can
also identify forward-looking statements by discussions of
strategy, plans or intentions. Forward-looking statements are
necessarily dependent on assumptions, data or methods that may be
incorrect or imprecise and we may not be able to realize them. We
caution you not to place undue reliance on forward-looking
statements, which reflect our analysis only and speak only as of
the date of this report or the dates indicated in the statements.
We assume no obligation to update or supplement forward-looking
statements. The following factors, among others, could cause actual
results and future events to differ materially from those set forth
or contemplated in the forward- looking statements: defaults on or
non-renewal of leases by tenants, increased interest rates and
operating costs, our failure to obtain necessary outside financing,
re-financing risks, risks related to our obligations in the event
of certain defaults under joint venture and other debt, risks
related to debt and equity security financings (including dilution
risk), difficulties in identifying properties to acquire and in
effecting acquisitions, our failure to successfully integrate
acquired properties and operations, our failure to divest
properties we have contracted to sell or to timely reinvest
proceeds from any divestitures, risks and uncertainties affecting
property development and construction (including construction
delays, cost overruns, our inability to obtain necessary permits
and public opposition to these activities), our failure to qualify
and maintain our status as a real estate investment trust, risks
related to our tax structuring, failure to maintain our current
credit agency ratings, environmental uncertainties, risks related
to natural disasters, financial market fluctuations, changes in
general economic conditions or in the real estate sector, changes
in real estate and zoning laws, a downturn in the U.S., California
or global economy, risks related to doing business internationally
and global expansion, losses in excess of our insurance coverage,
unknown liabilities acquired in connection with acquired properties
or otherwise and increases in real property tax rates. Our success
also depends upon economic trends generally, including interest
rates, income tax laws, governmental regulation, legislation,
population changes and certain other matters discussed under the
heading "Risk Factors" and elsewhere in our annual report on Form
10-K for the year ended December 31, 2006 and our quarterly report
on Form 10-Q for the quarter ended June 30, 2007. DATASOURCE: AMB
Property Corporation CONTACT: Margan S. Mitchell, Vice President,
Corporate Communications, +1-415-733-9477, Fax, +1-415-477-2177, ,
or Rachel E. McKosky, Media and Public Relations Director,
+1-415-733-9532, Fax, +1-415-477-2063, , both of AMB Property
Corporation Web site: http://www.amb.com/
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