ADELANTO, CA-AMB Property Corp. has acquired 400 acres here that can accommodate up to seven million sf of industrial development at a project called AMB Adelanto Gateway Logistics Center, according to the San Francisco-based industrial development and investment specialist. The new AMB acreage is in the High Desert region of Southern California, one of the areas where market watchers have been saying that logistics centers will go as the Inland Empire runs out of land for new development.
The site of the future AMB development is close to Interstate 15 and adjacent to the future E-220 "High DesertCorridor," a freeway that will be designed to connect Los Angeles to the High Desert with dedicated truck lanes. The plans for the new corridor include an off-ramp in front of AMB Adelanto Gateway Logistics Center.
Gene Reilly, AMB's president for North America, says that the 400 acres represents the company's entry into a new submarket of AMB's largest global market. He says the new development will be intended to capitalize on "the robust growth at the Los Angeles/Long Beach ports," where the annual growth in traffic has been rising steadily.
Reilly also cites the "scarcity of land with big box development potential" in Southern California, where the Inland Empire has emerged as a huge center of warehousing and logistics in the past dozen years because of a shortage of land in other Southern California counties. With the Inland Empire's big-box land now running out, experts see the High Desert as a next logical location for new big box development.
AMB's presence in Los Angeles totals more than 20.5 million sf of operating and development properties. Its portfolo was more than 95% leased as of March 31.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.