AMB Preleases 470,000-SF Industrial Center

(Read more on the industrial market.)

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.