2008-09-24

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Spain |

AMB Property Corporation(R) Leases 157,000 SF at Madrid Airport Development

Madrid: AMB Property Corporation(R) (NYSE: AMB), a leading global developer and owner of industrial real estate, today announced it has leased more than 157,000 square feet (14,600 square meters) of a development immediately adjacent to Madrid's Barajas International Airport, one of Europe's top ten cargo airports. The development has been leased to three customers, including approximately 104,000 square feet (9,700 square meters) to Leche Pascual, a leading international manufacturer of dairy products, food and beverages. Leche Pascual will use the facility for distribution throughout Madrid and the Iberian Peninsula.

"Madrid's Barajas International Airport has undergone significant expansion recently, including the construction of two runways, a new domestic terminal and an international terminal," said Mo Barzegar, AMB's managing director, Europe. "AMB has attracted multiple customers to our flagship project at Barajas, AMB Barajas Logistics Park, shortly after its official opening which was timed with the expansion of the airport." The facility is located across the street from the eastern perimeter of the airport's cargo zone, providing customers with rapid distribution access to the airport.

AMB Barajas Logistics Park totals more than 444,000 square feet (41,300 square meters). As of June 30, 2008, AMB's portfolio in Europe totaled more than 13 million square feet (1.2 million square meters) of facilities operating and under development, including air cargo facilities at Amsterdam Airport Schiphol, Brussels Zaventem Airport, Charles de Gaulle International Airport in Paris, Frankfurt International Airport and Heathrow Airport in London, in addition to Madrid Barajas International Airport.

Rachel E. M. Bennett for AMB Property Corporation - 2008-09-24

Announcement by AMB Property Corporation. The originator takes responsibility for its content.