(AMB) AMB Property Corp Signs New Leases in New Jersey

December 10th, 2009

AMB Property Corp. (AMB), a leading real estate investment trust (REIT), has recently signed leasing agreements for approximately 75,000 square feet at AMB Liberty Logistics Center in northern New Jersey, amid signs of market stabilization.

The leased facility is strategically located in close proximity to Newark Liberty International Airport and Port Newark/Elizabeth, the leading East Coast seaport in terms of volume. Consequently, the site provides easy access to the tunnels and bridges in Manhattan, and provides strong growth potential to the unnamed lessee. In addition, the leased property has state-of-the-art facilities and serves as a role model for industrial development in the region.

With the lease, AMB has strengthened its competitive position in the market. Based in San Francisco, AMB is a leading global owner, operator and developer of industrial real estate in North America, Asia and Europe. By the end of the third quarter of 2009, AMB had 156.1 million square feet of operating and development facilities across the globe, out of which 13.1 million square feet were located in northern New Jersey.

Zacks Investment Research

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