Commercial real estate

Property Press Releases

2009-08-11

Message delivered via AMB Property Corporation. The emitter takes responsibility for the content.

Netherlands | Property Renting, Commercial property: Retail, Commercial property: Industrial, Running Deal Commercial Property

AMB Property Corporation(R) Leases 79,000 SF in Amsterdam to IKEA

Netherlands: AMB Property Corporation (NYSE: AMB), a leading global owner, operator and developer of industrial real estate, today announced it has leased more than 79,000 square feet (approximately 7,400 square meters) in Amsterdam to IKEA, a leading home furnishings retailer. IKEA selected AMB Arena Distribution Center 2 as part of their consolidation of operations in southeast Amsterdam, a high-demand submarket with limited supply of distribution space.

"The location of AMB Arena Distribution Center 2 complements IKEA's retail presence in the market, and its proximity to Amsterdam city center was a deciding factor in their selection of this facility, demonstrating continued demand for infill industrial properties," said Mo Barzegar, AMB's managing director, Europe. "We look forward to an ongoing relationship with IKEA."

AMB Arena Distribution Center 2 provides rapid access to the junction of the A1 (Amsterdam-Amersfoort), A2 (Amsterdam-Utrecht) and A9 highways (Amsterdam-Haarlem), as well as the A10 ring road. The facility is located approximately three miles to Amsterdam city center and 12 miles to Amsterdam Airport Schiphol.

As of June 30, 2009, AMB's portfolio of operating and development properties in Europe totaled more than 14 million square feet (1.3 million square meters), of which approximately 3.6 million square feet (333,000 square meters) is located in the Netherlands.

Rachel E. M. Bennett for AMB Property Corporation - 2009-08-11

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

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