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TOKYO-Headlined by a 305,000-sf commitment, AMB Property Corp. has fully leased a 470,000-sf industrial building under construction in an infill submarket near the city's air and sea distribution networks. The AMB Funabashi Distribution Center filled up one year ahead of projections, according to Guy Jaquier, president of the REIT's Asia and European divisions.

"In Japan, we see strong leasing momentum on newer, larger floor-plate development projects," says Jaquier, who oversees AMB's eight-million-sf portfolio here. The brisk pace in populating the newest facility also reflects tenant demand for state-of-the-art distribution space in superior Japanese submarkets, added Jaquier.

Logistics firm Atena Co. Ltd. secured the 305,000 sf for use as its main distribution center for the Kanto region. The remaining space is being split between Kintetsu World Express, another logistics company, and KoKubu & Co. Ltd. The latter company is a manufacturer, wholesaler and distributor of food products and other consumer goods.