AMB Planning $160M Industrial Park

MEXICO CITY-AMB Property Corp. says it is planning a 2.9-million-sf industrial park here, on 160 acres in the Cuautitlan submarket. The San Francisco-based developer of distribution facilities says it will build out the estimated $160-million park in partnership with local partner G.Accion.The development, named Eagle Industrial Park, will be Mexico City’s largest master planned industrial warehouse park. Given its direct access to the NAFTA Highway, the site is being marketed to third-party logistics (3PL) providers and consumer products companies. Eagle Industrial Park is designed to accommodate single- and multi-tenant buildings with spaces ranging from 10,000 to 500,000 sf in 10 buildings for lease or sale. The buildings will include 30-foot clear heights, truck court depths of 130 feet and staging areas for trailer parking. The facilities are currently expected to be delivered in three phases from 2005 to 2009.In explaining the project, AMB chairman/CEO Hamid Moghadam says the need for highly functional distribution properties in Mexico City is strong and growing. “The city’s large and increasingly affluent population has a growing appetite for consumer products,” he says. “The multinational companies that provide those products need to consolidate their older, smaller buildings into newer, larger and more efficient facilities. In particular, we are seeing space requirements from global companies which are outsourcing logistics and distribution functions to 3PL providers.”AMB and G.Accion have delivered more than 1.3 million sf in Mexico City since 2002, all of which have been sold or fully leased to 3PL providers and consumer products customers. Occupants of the buildings include Procter & Gamble, Ryder Logistics and Kraft Foods. As of the end of March, AMB owned, managed and had renovation and development 104.5 million sf in 1,070 buildings in 36 markets in seven countries.