AMB Property Corporation(R) (NYSE: AMB), a leading global developer and owner of industrial real estate, announced last week it has leased a 175,000 square foot build-to-suit facility to DHL Global Forwarding.
The facility, named AMB IAH Logistics Center II, is being developed proximate to Houston Intercontinental Airport (IAH) on land capable of supporting up to approximately 150,000 square feet of additional development. The site is located on the main road into the future master-planned international air cargo terminal of IAH, which experienced a 6% increase in total air cargo volumes during 2007 and ranks as one of the top ten busiest international cargo gateways in North America.
“DHL relies on AMB for real estate solutions across North America, Europe and Asia and we are pleased to continue to win their trust with our customer-oriented development capabilities,” said Steve Callaway, AMB’s senior vice president, director of Customer Development. “In fact, Deutsche Post World Net, DHL’s parent company, is AMB’s largest global customer with more than 3.8 million square feet leased as of December 31, 2007.”
“The Houston industrial market continues to thrive, and given its strong multimodal infrastructure and growth in high-value exports, we see sustained demand for modern facilities here,” commented Kim Snyder, AMB’s senior vice president, managing director, Southwest Region. “Our DHL build-to-suit increases AMB’s momentum in Houston, following a 253,000 square foot build-to-suit for Agility and the acquisition of a nearly one million square foot airport-proximate portfolio.”
AMB’s Houston portfolio of operating and under development properties totaled more than 1.5 million square feet as of December 31, 2007.