AMP expands presence in Germany, Japan, Mexico
San Francisco-based industrial real estate owner and operator AMB Property Corp. has invested about $236 million developing distribution facilities at the port of Hamburg, Germany, and sites in Japan and Mexico.
At the port of Hamburg, AMB expanded its recently established presence with the acquisition of four distribution facilities aggregating approximately 561,000 square feet for a total investment of approximately $47 million. AMB’s presence in Hamburg now totals approximately 1.4 million square feet of development in process and operating facilities.
In Japan, AMB, with its local development partner, AMB BlackPine, commenced development of its second distribution center in Osaka. The five-story, fully ramped building, named AMB Amagasaki Distribution Center 2, totals about 982,000 square feet and is projected to be completed for a total investment of $114.2 million. The site is situated close to Osaka and Kobe ports. AMB’s presence in Japan now totals about 4.8 million square feet of operating and development properties.
In Mexico, AMB, together with local partner, G. Accion, has started work on the first two buildings in its Tr's Rios Industrial Park in Mexico City. The two buildings comprise about 944,000 square feet, and are projected to involve total investment of about $55 million.
In Guadalajara, the two partners have started development work on the 474,000-square-foot Arrayanes Building 2, for a total expected investment of $19.8 million. AMB now has a total presence in Mexico totaling about 4.4 million square feet.