AMB President Blake Baird said the Webvan's real estate needs -warehouses located in major population centers that allow the rapidmovement of goods - matched up with AMB's property portfolio.Besides offering its own space, the REIT is also helping Webvanfind space in buildings owned by other companies.
AMB is benefiting from changes in technology, but it is notrelying too heavily on the new economy. Although Webvan is itsbiggest tenant, it only rents 1.5 percent of AMB's space.
AMB owns and operates 724 industrial buildings and ninecommunity shopping centers totaling approximately 66.8 millionrentable sf. For the six months ended June 30, revenues fell 1% to$223.8 million. Net income applicable fell 17% to $56.8million.
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