AMB Property Europe, an affiliate of the American AMB Property Corporation, announced on Thursday that it has teamed up with Belgian developer DePaepe Group to develop a multi-tenant logistics facility in Boom, Belgium. The AMB Boom Distribution Center is expected to comprise 40,000 m[sup]2[/sup] on completion in the second quarter of 2008.
AMB Property Europe, an affiliate of the American AMB Property Corporation, announced on Thursday that it has teamed up with Belgian developer DePaepe Group to develop a multi-tenant logistics facility in Boom, Belgium. The AMB Boom Distribution Center is expected to comprise 40,000 m2 on completion in the second quarter of 2008.
'Our customers, primarily third-party logistics providers, air and ocean freight forwarders, integrated shippers, and retail and consumer product companies, need distribution space in key locations along the supply chain. Consistent with our strategy to develop, own and operate in strategic markets, AMB entered the Belgium market in 2005 to meet this demand,' said Mo Barzegar, AMB's managing director, Europe. The company's portfolio consists of about 905,000 m2 of logistics and distribution properties, both operating and under development. Belgium accounts for 50,000 m2 of the total.