SAN FRANCISCO,
Nov. 11 /PRNewswire-FirstCall/ -- AMB Property
Corporation(R) (NYSE: AMB), a leading global developer and owner of industrial
real estate, today announced it has leased 139,000 square feet (12,900 square
meters) in two build-to-suit developments at
Houston's George W Bush
International Airport and Amsterdam Airport Schiphol.
"This latest round of build-to-suit activity highlights the strength of
our customer franchise at key air cargo hubs, as well as the need for
high-quality airport-adjacent space, even in today's slower economy," said
Hamid R. Moghadam, AMB's chairman & CEO.
Forward Air has leased 71,000 square feet (6,600 square meters) of the AMB
IAH Logistics Center III build-to-suit development next to Houston's George W
Bush International Airport. "With its strategic location near Houston's
international airport, AMB IAH Logistics Center III is the ideal facility to
accommodate our expanding business," commented Matt Jewell, executive vice
president at Forward Air. AMB previously has completed 256,000 square feet
(23,700 square meters) of build-to-suit-for-sale developments for the U.S. air
freight forwarder.
Proximate to Amsterdam Airport Schiphol, AMB leased 68,000 square feet
(6,300 square meters) of the AMB President Distribution Center build-to-suit
development to IDEXX Laboratories BV. "As a current customer of AMB, we turned
to them for our future facility requirements," said Jon Ayers, president and
CEO, IDEXX Laboratories, Inc. "AMB has worked closely with us to accommodate
our growing customer base in Europe and has provided us with a facility
solution that also positions us to compete more effectively in the
international arena."
AMB Property Corporation.(R) Local partner to global trade.(TM)
AMB Property Corporation(R) is a leading global developer and owner of
industrial real estate, focused on major hub and gateway distribution markets
in the Americas, Europe and Asia. As of September 30, 2008, AMB owned, or had
investments in, on a consolidated basis or through unconsolidated joint
ventures, properties and development projects expected to total approximately
158.4 million square feet (14.7 million square meters) in 49 markets within 15
countries. AMB invests in properties located predominantly in the infill
submarkets of its targeted markets. The company's portfolio is comprised of
High Throughput Distribution(R) facilities-industrial properties built for
speed and located near airports, seaports and ground transportation systems.
Some of the information included in this press release contains forward-
looking statements, such as the delivery and occupation of AMB IAH Logistics
Center III and AMB President Distribution Center, and the company's ability to
meet future customer demand, which are made pursuant to the safe-harbor
provisions of Section 21E of the Securities Exchange Act of 1934, as amended,
and Section 27A of the Securities Act of 1933, as amended. Because these
forward-looking statements involve risks and uncertainties, there are
important factors that could cause our actual results to differ materially
from those in the forward-looking statements, and you should not rely on the
forward-looking statements as predictions of future events. The events or
circumstances reflected in forward-looking statements might not occur. You can
identify forward-looking statements by the use of forward-looking terminology
such as "believes," "expects," "may," "will," "should," "seeks,"
"approximately," "intends," "plans," "pro forma," "estimates" or "anticipates"
or the negative of these words and phrases or similar words or phrases. You
can also identify forward-looking statements by discussions of strategy, plans
or intentions. Forward-looking statements are necessarily dependent on
assumptions, data or methods that may be incorrect or imprecise and we may not
be able to realize them. We caution you not to place undue reliance on
forward-looking statements, which reflect our analysis only and speak only as
of the date of this report or the dates indicated in the statements. We assume
no obligation to update or supplement forward-looking statements. The
following factors, among others, could cause actual results and future events
to differ materially from those set forth or contemplated in the forward-
looking statements: defaults on or non-renewal of leases by tenants, increased
interest rates and operating costs, our failure to obtain necessary outside
financing, re-financing risks, difficulties in identifying properties to
acquire and in effecting acquisitions, our failure to successfully integrate
acquired properties and operations, our failure to divest properties on
advantageous terms or to timely reinvest proceeds from any divestitures, risks
and uncertainties affecting property development and construction (including
construction delays, cost overruns, our inability to obtain necessary permits
and public opposition to these activities), our failure to qualify and
maintain our status as a real estate investment trust, environmental
uncertainties, risks related to natural disasters, changes in general economic
conditions or in the real estate sector, changes in real estate and zoning
laws or other local, state and federal regulatory requirements, a downturn in
the U.S., California, or the global economy, risks related to doing business
internationally, losses in excess of our insurance coverage, unknown
liabilities acquired in connection with acquired properties or otherwise and
increases in real property tax rates. Our success also depends upon economic
trends generally, including interest rates, income tax laws, governmental
regulation, legislation, population changes, various market conditions and
fluctuations and those other risk factors discussed under the heading "Risk
Factors" and elsewhere in our most recent annual report on Form 10-K for the
year ended December 31, 2007 and our quarterly report on Form 10-Q for the
quarter ended September 30, 2008.
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