"As the world's second largest airport as measured by cargo volume, Incheon International is the primary logistics hub serving Korea and greater Northeast Asia," Moghadam says. "Our expansion into this market is a logical step as we continue to offer modern distribution facilities in our major gateway markets throughout Asia, Europe and North America."

San Francisco-based AMB owns nine million sf of distribution space throughout Asia in China, Japan and Singapore, but the AMB ICN Logistics Center will represent the real estate investment trust's inaugural venture onto the Korean peninsula.

"As the first third-party development at Incheon, we will be meeting pent-up demand for logistics space," predicts Guy Jaquier, AMB's president for Europe and Asia. "AMB ICN Logistics is ideal for domestic delivery, international air delivery and freight forwarding companies looking to locate at this world-class airport." Jaquier says he believes AMB's experience in developing and running industrial properties will ensure that the new facility incorporates modern design and efficiency elements to help tenants pass their cargo through the complex seamlessly.