Industrial REIT AMB Property Corp. is expected to announce today that it has bought 1.3 million sq. ft. of European and Japanese distribution facilities. The combinedare valued at $108.4 million, according to The Wall Street Journal.
Included in the deals is the right to develop facilities in Paris, Frankfurt, Madrid and Tokyo. One of the— the Bourget Distribution Center near Paris — is a 354,000 sq. ft. warehouse. AMB paid $30.3 million for the center, which is fully leased by a French postal company.
In Frankfurt, AMB paid nearly $20 million for a 164,000 sq. ft. distribution building located near FrankfurtAirport. The Tokyo properties — two multi-story warehouses totaling 363,000 sq. ft.— are located near a major expressway in metro Tokyo.