Search
 

Rents, Occupancy Rise for AMB Property Corp.

SAN FRANCISCO-The locally headquartered industrial REIT with 120 million sf to its name reports a high-water market for its occupancy and the end of a slide in rental rates.

By Brian K. Miller | Updated on October 18, 2006

(To read more on the industrial market, click here.)

SAN FRANCISCO-AMB Property Corp. passed some worthwhile milestones during the third quarter, which saw its earnings increase by 9.8%. Occupancy in its 120-million-sf industrial portfolio is at its highest level since the third quarter of 2001 and rents on renewals entered positive territory for the first time since the first quarter of 2002, according to its earnings report this week.

The locally headquartered REIT reported portfolio occupancy of 95.9%, a 50 basis point improvement from the end of the second quarter and a 130 basis point improvement from the third quarter of 2005. More significantly, it reported that rents on lease renewal and rollover in its operating portfolio increased 9.9% during the quarter. Rents declined in the second quarter by 0.9% and by 7.5% during the third quarter of 2005.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.