Search
 

Occupancy Falls, Rents Rise for AMB

SAN FRANCISCO-As part of its first quarter financial release, the locally based industrial REIT says its occupancy during the quarter fell while rents on renewals and rollovers increased.

By Brian K. Miller | Updated on April 19, 2007

(Read more on the industrial market.)

SAN FRANCISCO-AMB Property Corp., a locally based REIT with 128 million sf of distribution properties worldwide, saw its occupancy during the first quarter fall 90 basis points while rents on renewals and rollovers increased by 2.8%.

As of March 31, the company’s portfolio occupancy was 95.2%, which is down from 96.1% at the start of the year but up from March 31, 2006, when occupancy was 94.3%. Offsetting the declining vacancy in 2007 was an increase in rents. Rents on lease renewals and rollovers are 2.8% higher than they were in the previous quarter. In the first quarter of 2006, rents on lease renewals and rollovers fell 11.5%.

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.