New AMB Paris DC? Oui
San Francisco industrial real estate firm AMB Property Corp. said Tuesday it has finalized a deal for a 128-acre industrial property in Paris.
Financial and second-party details of the transaction were not released.
Located 12 miles northwest of Charles De Gaulle International Airport along the N2 highway, the property will be used as the development site for a 2.3-million-square-foot distribution complex. The project, to be named the AMB St. Pathus Logistics Park, will accommodate speculative, build-to-suit and build-to-sell development.
In announcing the acquisition, AMB noted that parcels of this size are at a premium in the Ile-de-France region surrounding Paris.
Prior to the St. Pathus purchase, AMB’s portfolio in Europe totaled more than 9.7 million square feet of operating and development properties. More than 3 million square feet of the firm's European total is located in the Paris market. AMB's worldwide portfolio consists of operating properties totaling 114 million square feet in 13 countries throughout North America, Europe and Asia.
New AMB Paris DC? Oui
