AMB Property Corporation(R) Leases 645,000 SF Distribution Center in Los Angeles
2009年4月22日 - 5:01AM
PRニュース・ワイアー (英語)
SAN FRANCISCO, April 21 /PRNewswire-FirstCall/ -- AMB Property
Corporation(R) (NYSE:AMB), a leading owner, operator and developer
of industrial real estate, today announced it has fully leased a
distribution center totaling more than 645,000 square feet, located
in the Inland Empire West submarket of Los Angeles. IDS USA, an
integrated distribution services provider and IDS Group company,
will use AMB Galleano for consolidation and expansion of its Los
Angeles-based operations. "This second quarter leasing of such a
sizable property demonstrates our ability to successfully market
our facilities and develop customer relationships in this
challenging environment," said Kim Snyder, managing director of
AMB's West Region. "We look forward to welcoming this valued new
customer to our facility." "IDS USA's lease of the well-located AMB
Galleano distribution center gives us a strategic foothold in the
Los Angeles market, and enables us to expand our business while
consolidating operations. This move is critical to establishing our
competitive advantage," commented Simon Oxley, IDS USA's country
managing director and president. As of December 31, 2008, AMB's
portfolio in the Los Angeles market totaled approximately 23.8
million square feet of operating and development facilities. AMB
Property Corporation.(R) Local partner to global trade.(TM) AMB
Property Corporation(R) 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. As of
December 31, 2008, AMB owned, or had investments in, on a
consolidated basis or through unconsolidated joint ventures,
properties and development projects expected to total approximately
160.0 million square feet (14.9 million square meters) in 49
markets within 15 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. Some of
the information included in this press release contains
forward-looking statements, such as the occupation of AMB Galleano,
continued leasing of AMB's buildings, and the company's ability to
meet future customer demand, 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: changes in
general economic conditions, global trade or in the real estate
sector (including risks relating to decreasing real estate
valuations and impairment charges); risks associated with using
debt to fund our business activities, including re-financing and
interest rate risks; our failure to obtain, renew, or extend
necessary financing or access the debt or equity markets; our
failure to maintain our current credit agency ratings or comply
with our debt covenants; risks related to our obligations in the
event of certain defaults under co-investment venture and other
debt; risks associated with equity and debt securities financings
and issuances (including the risk of dilution); a continued or
prolonged downturn in the California, U.S., or the global economy
or real estate conditions and other financial market fluctuations;
defaults on or non-renewal of leases by customers or renewal at
lower than expected rent; risks and uncertainties relating to the
disposition of properties to third parties and our ability to
effect such transactions on advantageous terms and to timely
reinvest proceeds from any such dispositions; our failure to
contribute properties to our co-investment ventures due to such
factors as our inability to acquire, develop, or lease properties
that meet the investment criteria of such ventures, or our
co-investment ventures' inability to access debt and equity capital
to pay for property contributions or their allocation of available
capital to cover other capital requirements such as future
redemptions; difficulties in identifying properties to acquire and
in effecting acquisitions on advantageous terms and the failure of
acquisitions to perform as we expect; risks and uncertainties
affecting property development, redevelopment and value-added
conversions (including construction delays, cost overruns, our
inability to obtain necessary permits and financing, our inability
to lease properties at all or at favorable rents and terms, and
public opposition to these activities); risks of doing business
internationally and global expansion, including unfamiliarity with
new markets and currency risks; risks of changing personnel and
roles; losses in excess of our insurance coverage; unknown
liabilities acquired in connection with acquired properties or
otherwise; our failure to successfully integrate acquired
properties and operations; changes in local, state and federal
regulatory requirements, including changes in real estate and
zoning laws; increases in real property tax rates; risks associated
with our tax structuring; increases in interest rates and operating
costs or greater than expected capital expenditures; environmental
uncertainties and risks related to natural disasters; and our
failure to qualify and maintain our status as a real estate
investment trust. Our success also depends upon economic trends
generally, including interest rates, income tax laws, governmental
regulation, legislation, population changes, various market
conditions and fluctuations and those other risk factors discussed
under the heading "Risk Factors" and elsewhere in our most recent
annual report on Form 10-K for the year ended December 31, 2008.
DATASOURCE: AMB Property Corporation CONTACT: Rachel E. M. Bennett,
Media and Public Relations Director of AMB Property Corporation,
+1-415-733-9532, Web Site: http://www.amb.com/
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