AMB Property Corporation® (NYSE:AMB) has leased approximately 178,000 ft² (16,600 m²) to direct mail company DSICMM in its 320,000-ft² (29,800-m²) industrial development project in East London . AMB entered the UK market with the acquisition of this development project in October 2007.
"Leasing a significant portion of AMB East London Distribution Park just weeks after bringing it into our portfolio underscores the property's strategic location. Our first customer in the UK was attracted to the superior functionality, modern specifications, and ideal London submarket location of this high-quality development," said Mo Barzegar, AMB's managing director, Europe.
DSICMM, the largest direct mail company in the United Kingdom, servicing many FTSE Top 100 companies, is leasing AMB East London Distribution Park under a ten-year lease term. According to the agent acting on behalf of DSICMM, Nigel Knighton, of PSK Knighton: "DSI is looking forward to opening their new state-ofthe- art printing, distribution and mailing facility. It will incorporate one of Europe's most advanced printers, the first of which is being delivered early next year to DSICMM."
AMB East London Distribution Park is a two-building facility situated in Binary Park adjacent to a major highway that connects Central London to the M25, London's Orbital. It is located within ten miles of Central London and seven miles to the east of the 2012 Olympic Games site. Jones Lang LaSalle, M3 Agency and Savills acted on behalf of AMB.