AMB Property Corporation(R) Leases 77,000 SF in Shanghai
2009年11月4日 - 9:08AM
PRニュース・ワイアー (英語)
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 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 those related to the occupation of AMB Jiuting
Distribution Center and demand for AMB's portfolio in Shanghai,
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 or renewal at lower than expected rent or failure to lease
at all or on expected terms, decreases in real estate values and
impairment losses, our failure to obtain, renew or extend financing
or re-financing, risks related to debt and equity security
financings (including dilution risk), our failure to divest
properties we have contracted to sell or to timely reinvest
proceeds from any divestitures, failure to maintain our current
credit agency ratings or comply with our debt covenants,
international currency and hedging risks, financial market
fluctuations, changes in general economic conditions, global trade
or in the real estate sector, inflation risks, a downturn in the
U.S., California or global economy, increased interest rates and
operating costs or greater than expected capital expenditures,
risks related to suspending, reducing or changing our dividends,
our failure to contribute properties to our co-investment ventures,
risks related to our obligations in the event of certain defaults
under co-investment ventures and other debt, difficulties in
identifying properties to acquire and in effecting acquisitions,
our failure to successfully integrate acquired properties and
operations, risks and uncertainties affecting property development,
value-added conversions, redevelopment 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,
environmental uncertainties, risks related to natural disasters,
changes in real estate and zoning laws, risks related to doing
business internationally and global expansion, risks of opening
offices globally, risks of changing personnel and roles, 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, 2008. DATASOURCE: AMB Property Corporation CONTACT:
Tracy A. Ward, Vice President, IR & Corporate Communications,
+1-415-733-9565, , or Rachel E. M. Bennett, Director, Media and
Public Relations, +1-415-733-9532, , both of AMB Property
Corporation Web Site: http://www.amb.com/
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