AMB Property Corporation® (NYSE:AMB) today announced it has leased approximately 433,000 ft² (40,300 m²) to Agility, a global provider of integrated supply chain solutions, at development projects in Houston, Paris and Amsterdam.
"Our development expertise, and our ability to provide Agility with ideal facilities at three key global trade locations, were significant factors in the selection of AMB to assist this important global customer's expansion plans," said Steve Callaway, AMB's senior vice president, director of Customer Development. "This is a great example of how AMB works flexibly with customers, and demonstrates how our customer-focused solutions can combine development leasing, build-to-suit and structured sale transactions across multiple continents."
AMB has commenced development of AMB IAH Airfreight 7, a 240,000-ft² (22,300 m²) build-to-suit facility for Agility in Houston. Proximate to Houston Intercontinental Airport and near the Port of Houston, it will serve Agility's Project Logistics division specializing in oil industry equipment transportation. As part of the transaction, AMB acquired a 66,000 ft² (6,100 m²) facility proximate to Houston Intercontinental Airport, which is currently occupied by Agility. AMB intends to re-lease the facility, named AMB Taft Distribution Center, upon Agility's transfer to the AMB IAH Airfreight 7 build-to-suit.
Agility's first lease with AMB in Europe was signed for AMB Gonesse Distribution Center in Paris, a 598,000-ft² (55,600 m²) development adjacent to Le Bourget Airport and southwest of Paris' Charles de Gaulle International Airport. Agility is leasing approximately 135,000 ft² (12,600 m²) in AMB Gonesse Distribution Center, establishing in-country headquarters to further expand its business in France.
Following the agreement in Paris, Agility leased approximately 58,000 ft² (5,400 m²) of AMB Fokker Logistics Center 2A in Amsterdam. The 118,000-ft² (11,000 m²) development is proximate to Amsterdam Airport Schiphol, Europe's third-largest airport for cargo volume, and meets Agility's need for a functional and state-of-the-art air cargo and distribution facility.
"As we continue to experience increased demand for our services, we appreciate partnering with AMB for our logistics real estate needs," commented Greg Rusovitch, CEO of Agility's project logistics group. "AMB's attention to Agility, and ability to meet multi-market requirements, has enabled us to offer our customers quick and flexible implementations at major logistics hubs as we grow our business."