SAN FRANCISCO-AMB Property Corp. has acquired 822,500 sf in Paris for $101.2 million. The locally based developer and owner of industrial space acquired 15 properties located in business parks serving Charles de Gaulle International Airport and the Paris metropolitan area.

The properties were developed by Sirius, AMB’s alliance partner in France. The portfolio’s occupancy is about 97%. Tenants include DHL, Hitachi, Newell Rubbermaid, Yusen Global Logistics, and Gate Gourmet.

In addition to this deal, AMB has committed to acquire three future development projects from Sirius. When completed, the properties will total 110,000 sf. AMB’s expected investment in the assets is approximately $17.4 million.

AMB is one of the largest owners of airport-adjacent distribution properties in Paris. The company owns approximately 2.4 million sf of operating and development projects in the greater Paris metropolitan area.

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