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AMB Completes 1M-SF Sale/Leaseback

GUADALAJARA, MEXICO-The REIT's portfolio in Guadalajara grows to 2.6 million sf. Plus, it has development rights for another 1.5 million sf adjacent to its new site.

By Joe Clements | Updated on May 24, 2007

(Read more on the industrial market.)

GUADALAJARA, MEXICO-In a deal that nearly doubles its commercial real estate footprint here, AMB Property Corp. has acquired a three-building, 1.2 million-sf campus via a sale/leaseback agreement with the sole occupant. The newly branded AMB Los Altos Industrial Park is located in the established El Salto business district that offers direct connection to downtown and to Guadalajara International Airport.

“Guadalajara’s growth-oriented economy has a diverse industrial marketplace, and is known as the ‘Silicon Valley’ of Mexico because of the number of technology companies with a presence here,” AMB North America president Gene Reilly says in a release announcing the deal. That notion is underscored by the occupant of the park, a global technology firm whose laptop division uses space for R&D, manufacturing and distribution.

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