AMB Property Corporation acquires industrial portfolio in Paris (FR/US)

AMB Property Corporation has announced it has increased its operating platform in Paris by approximately 76,000 m², with the acquisition of 15 industrial properties that are 97% leased to local and multinational distribution customers including DHL, Hitachi, Newell Rubbermaid, Yusen Global Logistics, and Gate Gourmet. The total investment in the facilities is approximately €84 million ($101.2 million).

The properties are located in established business parks directly serving Charles de Gaulle International Airport and the Paris metropolitan area. The properties were developed by AMBs alliance partner in France, SIRIUS.

Additionally, AMB has committed to acquiring three future development projects from SIRIUS, which when completed are expected to add approximately 110,000 ft² to AMB's customer offerings in Paris. The total expected investment in the development
projects is approximately €15 million ($17.4 million).

AMB is one of the largest owners of airport-adjacent distribution properties in Paris and currently owns more than 226,000 m² of operating and development projects in the greater Paris metropolitan area.

Source: AMB

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