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AMB Property Corporation(R) Acquires 1.2 Million SF Fully-Leased Industrial Campus in Guadalajara, Mexico

AMB Property Corporation(R) (NYSE: AMB), a leading global developer and owner of industrial real estate, today announced it has acquired a campus in Guadalajara, Mexico with approximately 1.2 million square feet of industrial space. The three-building campus, named AMB Los Altos Industrial Park, was acquired in a sale-leaseback transaction and is fully leased to a global technology company that uses the facilities for research & development, manufacturing, and distribution operations of its laptop division. The acquisition includes a contiguous land parcel capable of supporting up to 1.5 million square feet of future development.

"Guadalajara's growth-oriented economy has a diverse industrial marketplace, and is known as the 'Silicon Valley' of Mexico because of the number of technology companies with a presence here," said Gene Reilly, AMB's president, North America. "We are pleased to grow our portfolio with an acquisition that complements our other industrial assets in Guadalajara, nearly doubling our market presence to a current total of approximately 2.6 million square feet and adding land inventory capable of supporting 1.5 million square feet of development."

AMB Los Altos Industrial Park is located in the well-established El Salto industrial submarket in Guadalajara, with rapid access to the main ring highway that connects the property to downtown Guadalajara and Guadalajara International Airport, both of which are approximately three miles from the site.

"Not only have we acquired a fully-leased operating property, we now have a sizable parcel of land that provides us with increased flexibility to meet future requirements for Class A facility development in Guadalajara," said Kim Snyder, AMB's managing director, Southwest Region. "We continue to see customer demand gain momentum for highly efficient, sizable and well-located facilities in Guadalajara, as well as Mexico overall."

AMB's Mexico portfolio is comprised of operating and development real estate in Guadalajara, Mexico City, Monterrey and Queretaro - a portfolio now totaling more than 5.7 million square feet. AMB is targeting Tijuana for future investment.

AMB Property Corporation.(R) Local partner to global trade.(TM)

AMB Property Corporation(R) is a leading global developer and owner of industrial real estate, focused on major hub and gateway distribution markets throughout North America, Europe and Asia. As of March 31, 2007, AMB owned, or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 128.2 million square feet (11.9 million square meters) in 40 markets within 13 countries. AMB invests in properties located predominantly in the infill submarkets of its targeted markets. The company's portfolio is comprised of

High Throughput Distribution(R) facilities-industrial properties built for speed and located near airports, seaports and ground transportation systems.

AMB's press releases are available on the company website at www.amb.com or by contacting the Investor Relations department at +1 415 394 9000

Published Sunday, May 27, 2007 5:16 AM by Kanoa Biondolillo


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