AMB reaches highest point in Amsterdam development project (NL)

AMB Property Europe B.V., an affiliate of AMB Property Corporation®, has announced the topping off of an approximately 9,000-m² development project in Lijnden, a submarket of Amsterdam Airport Schiphol. The modern facility, named AMB Lijnden Logistics Court 1, is comprised of two buildings and is being developed with Keystone Vastgoed.

"AMB provides the types of buildings and service that facilitate our customers' businesses. Since our entry in the Amsterdam market in 2003, we have offered larger units, but we have discovered the demand for smaller functional distribution space," said Mo Barzegar, AMB's managing director, Europe. "We look to further strengthen our position in the Amsterdam market by diversifying the offering of Class-A distribution space to our customers." AMB's portfolio of operating properties in the Netherlands totals more than 214,500 m², of which more than 148,100 m² is located in and around Amsterdam.

The facility consists of four units, each totaling approximately 2000 m² of warehouse space and 450 m² of office space, and is located in the Airport Business Park in Lijnden, a submarket of AMB's target market Amsterdam Schiphol region. This strategic location is proximate to both the Amsterdam City Center and Amsterdam Airport Schiphol. The buildings also have immediate access to the A9 motorway which connects with the A2 (Amsterdam-Utrecht) and the A1 (Amsterdam-Amersfoort-Germany). The leasing of the units has already begun.

In Europe AMB's portfolio totaled approximately 905,000 m² of operating and under development properties as of September 30, 2007. Subsequent to the quarter, AMB has announced 29,700 m² of additional space in the UK. With this acquisition, AMB currently serves customers in the air express, logistics and freight forwarding industries in ten markets in Belgium, France, Germany, Italy, The Netherlands, Spain and the UK.

Source: AMB

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