GUANGZHOU, CHINA-AMB Property Corp. has recently leased about 455,200 square feet to four tenants in its new AMB Guangzhou development Zone Logistics Center, which is still under construction. The one-million-square-foot business park is due for completion in the second quarter and is more than 50% leased, said the company in a statement.
The new tenants include three third-party logistics providers and one electronic solutions company. The tenants were not named. The park is part of the company’s 16.2-million-square-foot Asia portfolio.
Guy Jaquier, president of the firm’s Europe and Asia division, told a crowd during his presentation at REITWeek 2010 in Chicago Wednesday that he believes more companies will outsource their 3pl needs. “We would expect to see that trend create some sort of impact with space needs, though we don’t know when or how it will happen,” he said. He said his company is still primarily focused on Brazil and China for its global presence.
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