AMB Property Corporation(R) Leases 440,000 SF in Hamburg

"AMB adapted to market conditions in our management of this infill asset. We acquired the site as part of our AMB Hausbruch Industrial Center, with plans to demolish the building and develop a modern distribution facility in its place. However, we were able to meet the needs of a highly respected customer for 10 more years, and to significantly expand their leased space," said Mo Barzegar, AMB's managing director, Europe.

"We are extremely pleased that AMB was able to offer us long-term accommodation for our production center at this strategic location, which is close to our Global R&D facility and BSN's head office, ensuring both close communication and a strong talent base," said Dr. Claus-Hermann Wiegel, managing director of BSN medical.

AMB Hamburg Hausbruch Industrial Park is located approximately one mile from the Altenwerder Terminals of the Port of Hamburg and approximately five miles from Hamburg city center. The site has immediate access to the A7 highway, the main north/south arterial through the region that intersects with the A1 highway, connecting Hamburg with the Rhine-Ruhr region, Germany's most densely populated and industrialized region.

Additionally, AMB has leased approximately 112,000 square feet (10,400 square meters) with a cargo transportation company in AMB Altenwerder Distribution Center 1, a modern facility proximate to Hamburg's Container Terminal Altenwerder, the Altenwerder rail spurs and the A7 motorway, providing multimodal access to customers.

As of March 31, 2009, AMB's Europe portfolio consisted of approximately 13.9 million square feet (1.3 million square meters) of logistics and distribution properties, more than 3.9 million square feet (347,900 square meters) of which is located in Germany.