MIRA LOMA, CA-AMB Property Corp. has acquired a 902,000-sf warehouse here that is occupied by Wal-Mart in a deal that pushes the San Francisco-based company's Southern California portfolio past 22 million sf. Terms were undisclosed, but the San Francisco firm is believed to have paid about $80 million in acquiring the distribution center from New York Life.

The property is now called AMB Loma Grande Distribution Center and is occupied by Wal-Mart in a lease that runs to 2011 with an option to renew, according to industry sources. The building sits on a parcel of nearly 29 acres along Interstate 15 at 11900 Riverside Dr., close to the Ontario International Airport in Mira Loma, an unincorporated portion of Riverside County.

AMB acquired the Mira Loma property in a transaction that was brokered by the CB Richard Ellis team of Barbara Emmons, Darla Longo and Jerry Nourse. The San Francisco-based company, which has closed a number of sales and leases in the Inland Empire in recent months, says that its Southern California portfolio of operating properties was approximately 98% leased as of Sept. 30.

Late last year AMB signed third party logistics provider Weber Distribution to a 10-year, $25.7-million lease for 564,161 sf of space at AMB Redlands Distribution Center, a 1.3-million-sf building at 1651 California St. in Redlands.

Other deals in the Inland Empire by AMB last year included its purchase of 400 acres in the High Desert community of Adelanto that can accommodate up to seven million sf of industrial development at a project called AMB Adelanto Gateway Logistics Center. That deal gave AMB a head start on establishing a presence in the High Desert region of Southern California, an area where market watchers have been saying that distribution space will develop as other areas of the Inland Empire run out of land for big box distribution facilities.