AMB Expands Acquisition, Development Portfolio

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SAN FRANCISCO-AMB Property Corp. is adding to its development and investment portfolios with major projects in the Northwestern US, Canada and France. Over the past several weeks, the publicly traded air cargo REIT has made significant acquisitions in Seattle and San Francisco and launched major developments in Toronto, Milan and Paris.

In Milan, AMB secured a land position that it says will allow entry into the Milan market with an expected 1.3 million-sf multi-phase development. The site is located south of the city center along route SP40 in Siziano, between the A1 motorway (connecting Milan to Bologna) and the A7 route to Genoa. AMB also launched development of a 590,100-sf distribution center approximately seven miles north of Paris and four miles south of Charles de Gaulle International Airport. The $51-million project will expand AMB’s near the airport to about 1.6 million sf.