AMB starts first phase of Le Havre logistics development

AMB Property France, an affiliate of global developer and owner of industrial real estate AMB Property Corporation, has started development on 41,500 m² of distribution space near the French port of Le Havre. AMB Le Havre Logistics Park is a two-building, multi-phase development located in the Le Havre submarket. The first phase of this development - totaling more than 29,000 m² - is expected to be completed in the fourth quarter of 2008. The second phase is expected to follow at the end of 2009.

'The Seine River Valley Corridor links the metropolitan areas of Le Havre, Rouen and Paris. These three ports combined with the area's developed and well-maintained infrastructure form a high-demand gateway for international trade in France,' said François Rispe, vice president, general manager, France. 'We are very pleased to enter this port corridor, which is a viable alternative to the Antwerp-Lille-Paris axis, with land to support the development of state-of-the-art distribution space.'

AMB´s portfolio in Europe totalled more than one million m² of operating and development properties, of which 387,000 m² is located in France.