Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

SHANGHAI-AMB Property Corp has acquired its first asset in China. The San Francisco-based industrial REIT paid $8.7 million for an existing 184,000-sf industrial building here along with enough adjacent land to develop another 185,000-sf building.

The existing building, renamed AMB Jiuting Distribution Center, is located in an industrial zone approximately six miles from the Hongqiao Airport and 12 miles from Shanghai’s city center. The building has 32,250 sf of ancillary office space that is currently vacant and 151,750 sf of distribution space that is leased to a distributor of pharmaceutical products and a subsidiary of a French sports gear distributor and retailer.

AMB shipped executive vice president David Fries to Shanghai in July to source deals. “To the extent we can identify [opportunities], we would expect China to represent an important part of our expanding global platform,” said AMB chief executive Hamid Moghadam at the time.

The company is looking for development opportunities at airport and seaport locations in Shanghai, Beijing and the Pearl River Delta. Construction at the Shanghai development site is expected to begin in 2006.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.