SHANGHAI-DHL Exel Supply Chain has leased the entire AMB Fengxian Logistics Center here. The facility consists of three different buildings totaling more than one million sf.
AMB Property Corp just completed a complete redevelopment of the property specifically for DHL. "AMB understood the time-sensitive nature of our requirement and delivered a highly efficient facility," says Spencer Lim, DHL's Asia-Pacific senior vice president of real estate, in a statement. "Not only did AMB identify the right location and redevelopment plan, they carefully phased the construction schedule, enabling us to ramp up operations early and meet the distribution needs of our customers."
The industrial park will serve as a distribution center for several DHL clients including consumer goods companies and retailers. "Our long-time customer DHL came to us with a critical distribution facilities requirement--more than one million sf of highly efficient logistics space in Shanghai up and running in just six months," says AMB's Hamid Moghadam, chairman and CEO. "Our local team mobilized immediately, identified a prime location, implemented an extensive redevelopment program and delivered the completed site to DHL."
DHL's parent company, Deutsche Post World Net, now has 3.3 million sf of AMB property leased throughout North America, Europe and Asia.
AMB owns 1.4 million sf here and a total of 8.5 million sf throughout Asia. According to executives, the company is targeting South Korea as the next key Asian market to expand to. AMB, which has a part in 124.7 million sf in 39 markets worldwide, launched into the Chinese market in 2005. As GlobeSt.com reported in February, AMB plans to expand its development pipeline from $914 million in 2006 to $1.6 billion per year by 2010.
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