AMB Property Corporation leases 23,550 m² in Milan development (IT)

AMB Property Corporation, a leading owner, operator and developer of global industrial real estate, announced it has leased more than 23,550 m² at AMB Siziano Logistics Park, a development project in Milan.

G.F.L., an international leader in the production and distribution of courtesy articles for the hotel industry, will occupy approximately 17,900 m² and Lodeman, a company specializing in the provision of "on demand" logistics services, will occupy approximately 5,550 m² . G.F.L. plans to use the space to establish their new corporate headquarters.

"We are pleased to sign our first leases with G.F.L. and Lodeman," commented François Rispe, AMB's senior vice president, general manager for Southern Europe. "AMB Siziano Logistics Park is a good fit for these customers due to its strategic location proximate to Milan's city center."

"The leasing activity at AMB Siziano Logistics Park demonstrates the success of our strategy of investing in the immediate vicinity of the main urban centers", said Massimo Mazzi, president of Redilco Real Estate. "Despite the challenging economic environment, operators continue to seek modern and efficient facilities close to the final consumer."

The development is located eight kilometers south of the city center; provides rapid access to the Lombardia-Piedmont industrial region of Italy; and is connected to the region's key road transport network. In addition to the remaining 5,500 m² in the existing building at the park, the site also offers an additional 160,000 m² of land to accommodate customers' build-to-suit needs for logistics, industrial or light industrial space.

AMB's joint venture partner in the development of AMB Siziano Logistics Park is Milan-based Redilco Real Estate S.p.A.

As of December 31, 2009, AMB's portfolio in Europe totaled approximately 1.3 million m² of operating and under development properties.

Source: AMB

Related News