AMB Property Corporation(R) Leases 126,000 SF in Milan Development
Corporation(R) (NYSE: AMB), a leading global owner and developer of industrial
real estate, today announced it has leased more than 126,000 square feet
(11,700 square meters) of its
major Italian distributor of food products who is using the space to manage
the global logistics of an olive oil products manufacturer.
“Leasing activity at AMB Siziano Logistics Park demonstrates continuing
customer demand for modern and efficient facilities in
strategically-located distribution market and the economic heart of
commented
overall economy has been adversely affected by the global slowdown, demand for
our European projects remains solid as evidenced by other recent customer
commitments for AMB space in
The development is located 10 miles south of
rapid access to the Lombardia-
situated along route SP40, linking the A1 and the A7, which connect southern
“We chose AMB Siziano Logistics Park because it is in an ideal location
for our customers, and it enables us to easily reach all areas of
Italy
Battistoni
AMB’s joint venture partner in the development of AMB Siziano Logistics
Park is
As of
13.6 million square feet (1.3 million square meters) of operating and under
development properties.
AMB Property Corporation.(R) Local partner to global trade.(TM)
AMB Property Corporation(R) is a leading global owner and developer of
industrial real estate, focused on major hub and gateway distribution markets
in the Americas,
investments in, on a consolidated basis or through unconsolidated joint
ventures, properties and development projects expected to total approximately
158.4 million square feet (14.7 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.
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 occupation and stabilization of AMB
Siziano Logistics Park, the company’s ability to meet future customer demand,
and the pace and continued leasing of distribution facilities, 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 press release 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 customers or renewals at lower than expected rent, increased
interest rates and operating costs, or greater than expected capital
expenditures, our failure to obtain necessary outside financing, re-financing
risks, risks related to our obligations in the event of certain defaults under
co-investment ventures 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 on advantageous terms or to timely reinvest proceeds from
any divestitures, risks and uncertainties affecting property development,
value-added conversions 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 credit agency ratings, environmental uncertainties, risks related
to natural disasters, financial market fluctuations, changes in general
economic conditions or in the real estate sector, inflation risks, changes in
real estate and zoning laws or other local, state and federal regulatory
requirements, a continued or prolonged downturn in the U.S.,
the global economy, risks related to doing business internationally and global
expansion, costs 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, 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
SOURCE AMB Property Corporation