SAN FRANCISCO, July 26 /PRNewswire-FirstCall/ -- AMB Property
Corporation(R) (NYSE: AMB), a leading global developer and owner of
industrial real estate, today announced it has leased a 396,000 square foot
build-to-suit facility to EGL Eagle Global Logistics, a leading global
transportation, supply chain management and information services company,
for a 10-year term. The air cargo distribution facility is being developed
at DFW International Airport (DFW), in Dallas, Texas.
"With this build-to-suit agreement, AMB is furthering its relationship
with target customer Eagle Global Logistics, to whom we lease in five
markets in North America and Asia," said Steve Callaway, AMB's senior vice
president, director of Customer Development. "Additionally, this
transaction demonstrates our commitment to the airport-related markets such
as DFW Airport. Air cargo volumes have increased notably at DFW, which
recently announced its all-time international cargo record in 2006, up 13%
from the prior year."
AMB DFW Logistics Center IV is proximate to Dallas/Fort Worth
International Airport and is located on Airfield Drive. Development of the
facility is expected to commence in the third quarter of 2007.
"AMB is a trusted real estate provider to Eagle Global Logistics, and
we're pleased to extend the relationship with them to what now stands at
approximately 1.2 million square feet of space leased," said Diane Deaton,
Real Estate Consultant for EGL Eagle Global Logistics. "AMB has been
responsive and accommodating during this transaction. We have great
confidence in their development expertise and are pleased that they are
again able to meet our facility requirements."
AMB's Dallas portfolio is comprised of operating and development real
estate on-tarmac at Dallas/Fort Worth International Airport, and in the
greater Dallas area -- a portfolio totaling more than 5.7 million square
feet.
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 June 30, 2007, AMB
owned, or had investments in, on a consolidated basis or through
unconsolidated joint ventures, properties and development projects expected
to total approximately 136.7 million square feet (12.7 million square
meters) in 44 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
http://www.amb.com or by contacting the Investor Relations department at +1
415 394 9000.
Some of the information included in this press release contains
forward- looking statements, such as the continued expansion of AMB's
relationship with EGL Eagle Global Logistics, and the development
commencement, completion and occupancy of AMB DFW Logistics Center IV,
which are made pursuant to the safe- harbor provisions of Section 21E of
the Securities Exchange Act of 1934, as amended, and Section 27A of the
Securities Act of 1933, as amended. Because these forward-looking
statements involve risks and uncertainties, there are important factors
that could cause our actual results to differ materially from those in the
forward-looking statements, and you should not rely on the forward-looking
statements as predictions of future events. The events or circumstances
reflected in forward-looking statements might not occur. You can identify
forward-looking statements by the use of forward-looking terminology such
as "believes," "expects," "may," "will," "should," "seeks,"
"approximately," "intends," "plans," "pro forma," "estimates" or
"anticipates" or the negative of these words and phrases or similar words
or phrases. You can also identify forward-looking statements by discussions
of strategy, plans or intentions. Forward-looking statements are
necessarily dependent on assumptions, data or methods that may be incorrect
or imprecise and we may not be able to realize them. We caution you not to
place undue reliance on forward-looking statements, which reflect our
analysis only and speak only as of the date of this report or the dates
indicated in the statements. We assume no obligation to update or
supplement forward-looking statements. The following factors, among others,
could cause actual results and future events to differ materially from
those set forth or contemplated in the forward- looking statements:
defaults on or non-renewal of leases by tenants, increased interest rates
and operating costs, our failure to obtain necessary outside financing,
re-financing risks, risks related to our obligations in the event of
certain defaults under joint venture and other debt, risks related to debt
and equity security financings (including dilution risk), difficulties in
identifying properties to acquire and in effecting acquisitions, our
failure to successfully integrate acquired properties and operations, our
failure to divest properties we have contracted to sell or to timely
reinvest proceeds from any divestitures, risks and uncertainties affecting
property development and construction (including construction delays, cost
overruns, our inability to obtain necessary permits and public opposition
to these activities), our failure to qualify and maintain our status as a
real estate investment trust, risks related to our tax structuring, failure
to maintain our current credit agency ratings, environmental uncertainties,
risks related to natural disasters, financial market fluctuations, changes
in general economic conditions or in the real estate sector, changes in
real estate and zoning laws, a downturn in the U.S., California or global
economy, risks related to doing business internationally and global
expansion, losses in excess of our insurance coverage, unknown liabilities
acquired in connection with acquired properties or otherwise and increases
in real property tax rates. Our success also depends upon economic trends
generally, including interest rates, income tax laws, governmental
regulation, legislation, population changes and certain other matters
discussed under the heading "Risk Factors" and elsewhere in our annual
report on Form 10-K for the year ended December 31, 2006.
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