San Francisco-based AMB Property Corporation has acquired a 29,700 m[sup]2[/sup] industrial development project in London, in a deal that expands its European platform to the UK. The AMB East London Distribution Park is a two-building development located adjacent to a major highway connecting central London to the M25, London's Orbital.
San Francisco-based AMB Property Corporation has acquired a 29,700 m2 industrial development project in London, in a deal that expands its European platform to the UK. The AMB East London Distribution Park is a two-building development located adjacent to a major highway connecting central London to the M25, London's Orbital.
'This well-located property enables us to respond to customer demand for newly developed distribution space in a key supply-constrained London submarket,' said Mo Barzegar, AMB's managing director, Europe, in a statement. 'Central London is only 10 miles to the west of the property, and the 2012 Olympic Games site is even closer and expected to fuel demand for logistics space as the city undergoes improvement projects and makes significant investments in infrastructure.'
As of 30 June 2007, AMB's Europe portfolio totalled more than 840,300 m2 of operating and under development projects. Since then, AMB has announced 73,900 m2 of additional space, including the AMB East London Distribution Park.
