Search
 

Air Freight Growth Behind AMB Buy

AMB Property Corp.'s $181 million acquisition of a 2.1 million-sf portfolio of 25 modern airfreight buildings at three US international airports adheres to the Northern California REIT's strategy of focusing investment on markets benefiting from explosive growth in global distribution. It also reflects the company's preference for infill locations that limit options for competition from other developers.

By John McCloud | Updated on November 16, 2006

John McCloud is editor of Industry Property Journal, from which this article is excerpted.

San Francisco—AMB Property Corp.’s $181 million acquisition of a 2.1 million-sf portfolio of 25 modern airfreight buildings at three US international airports adheres to the Northern California REIT’s strategy of focusing investment on markets benefiting from explosive growth in global distribution. It also reflects the company’s preference for infill locations that limit options for competition from other developers.

The purchase, by the company’s AMB Institutional Alliance Fund III, encompasses properties serving the Seattle-Tacoma International Airport, Dallas Fort Worth International Airport and George Bush Intercontinental Airport in Houston. The deal also includes 59 acres of developable land adjacent to the Houston airport and 72 acres in Atlanta being held for sale.

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.