AMB has announced third quarter results and capital deployment activities. To be sure you receive the news, here are highlights and links to the full announcements. In all, AMB's activities in the third quarter total approximately 120.775 m² in Europe.
AMB entered the Rotterdam market with the acquisition of AMB Port of Rotterdam, a fully leased 7915 m² facility for a total investment of USD 5.7 million. Rotterdam is Europe's largest and the world's seventh largest seaport. The property is adjacent to the A15, the main east/west arterial from the Port to the Rhine area of Germany, and the A4 and A79 motorways, connecting the Port to The Hague, Amsterdam and Belgium.
AMB began development of a third building at AMB Fokker Logistics Park, located within five minutes of Amsterdam Airport Schiphol's south cargo terminals. Schiphol is Europe's third largest airport for cargo volume. AMB currently owns, operates or has logistics facilities under development totaling 102.190 m² in the Schiphol submarket.
AMB entered the Brussels market with the customer-driven acquisition and development expansion of AMB BRU Air Cargo Center, a 7.640 m² on-tarmac facility located at Zaventem Airport in Brussels. Belgium is a leading pan-European logistics hub with convenient connections to Germany, France and the Netherlands. The Zaventem Airport ranks as Europe's fifth largest airfreight handler. The facility is fully leased to one of the world's largest dedicated air cargo ground services companies.
AMB began a 9.475 m² expansion of its Frankfurt Logistics Center 556 facility in the third quarter. The building will total 24.990 m². Located on airport land at Frankfurt International, the development increases the company's offerings at Europe's top-ranking airport for total cargo volume. The expansion is expected to be completed for USD 15.9 million.
AMB began development on the second of its buildings in AMB L'Isle d'Abeau Logistics Park with a 25.800 m² bulk warehouse facility in Lyon. Lyon is France's second largest metropolitan area and the primary distribution hub for goods entering Europe via the port of Marseille. Proximate to the main access routes to Barcelona, Milan, Switzerland and Paris, the park's location serves one of the larger pan-European distribution hubs.
Significantly increasing its presence in the Paris metropolitan area, AMB began development of the 54.820 m² AMB Gonesse Distribution Center. The modern bulk warehouse is located seven miles north of Paris and four miles south of Charles de Gaulle International Airport. The project will increase AMB's customer offerings in the CDG market to approximately 148.640 m².
During the quarter, AMB secured a land position which will allow it to enter the Milan market with an expected 120.770 m² multi-phase development. The site is located south of the city center along route SP40 in Siziano, between the A1 motorway connecting Milan to Bologna; Florence; Rome; and Naples, and the A7 route to Genoa.
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Source: AMB Property Europe