(Read more on the industrial market.)
SAN FRANCISCO-AMB Property Corp. announced several hundred thousand square feet of leasing at properties in Mexico, where over the past five years it has built up a seven-million-sf portfolio in five markets tied to global trade. The markets where the leasing took place were Mexico City and Guadalajara.
In Mexico City, AMB leased approximately 439,000 sf to two customers at AMB Tres Rios Industrial Park, which currently totals approximately 944,000 sf. Located adjacent to the Nafta Highway, the park is capable of supporting an additional 2.1 million sf of development.
Also in Mexico City, AMB leased up a new 112,000-sf building within San Martin Obispo Industrial Park, a 2.1-million-sf development that is 100% leased, and inked an 85,000-sf lease at AMB Mesquite Distribution center, stabilizing that asset. The new San Martin Obispo building is expected to be contributed to the Mexico fund, a co-investment joint venture.
In Guadalajara, AMB has leased 101,000 sf to two customers in AMB Arrayanes Building 2, a 474,000-sf structure located in the master-planned San Jorge Industrial Park.
Looking ahead, AMB is entering the Monterrey market with a two-building development totaling 340,000 sf in the Apodaca submarket near Monterey International Airport. The buildings will rise in AMB Agua Fria Industrial Park, which can support up to two million sf of development.
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