AMB Leases 127,000 SF of Mexican Development Portfolio
- Oct 28, 2010
October 28, 2010
By Allison Landa, News Editor
AMB Property Corp. has just engaged in a significant international deal. The owner, operator and developer of global industrial real estate has leased 127,000 square feet of its Mexican development portfolio to freight forwarding firm Kuehne+Nagel. The space is located at the AMB Los Altos Industrial Park in Guadalajara.
According to AMB Latin America managing director Luis Gutierrez, the deal broadened the company’s relationship with a target customer to 14 leases in nine markets. He added that an uptick in Mexican domestic consumption has fueled Kuehne+Nagel’s business and that he expects increased demand for industrial space in Mexico.
The Mexican industrial real estate sector is seeing renewed interest, unlike other sectors in the country.
As of Sept. 30, AMB’s Mexico portfolio totaled more than 9.8 million square feet, with target markets in Guadalajara, Mexico City, Monterrey, Queretaro, Reynosa and Tijuana.