AMB Leasing Up China Portfolio
- Jun 23, 2010
June 23, 2010
By Allison Landa, News Editor
Industrial real estate owner, operator and developer AMB Property Corp. continues to stabilize its holdings in China. During the second quarter, AMB has leased 700,000 square feet and has leased 1.22 million square feet since the beginning of the year.
Recent activity includes the leasing of 84,100 square feet to two third-party logistics providers at AMB Beilun Port Distribution Center in Ningbo and the leasing of 143,200 square feet at AMB Jiuting Distribution Center in Shanghai.
“Double-digit economic growth in China continues to drive demand for state-of-the-art industrial space proximate to major urban centers,” AMB managing director in Asia Michael Evans said when announcing the news. “This bodes well for our customers’ business and we are pleased to help position them for success.”
According to Jones Lang LaSalle’s 2010 Global Real Estate Transparency Index, China showed the biggest gains in market transparency amongst Asian countries. India was also highly ranked in that study.