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GUADALAJARA, MEXICO-In a deal that nearly doubles its commercial real estate footprint here, AMB Property Corp. has acquired a three-building, 1.2 million-sf campus via a sale/leaseback agreement with the sole occupant. The newly branded AMB Los Altos Industrial Park is located in the established El Salto business district that offers direct connection to downtown and to Guadalajara International Airport.

“Guadalajara’s growth-oriented economy has a diverse industrial marketplace, and is known as the ‘Silicon Valley’ of Mexico because of the number of technology companies with a presence here,” AMB North America president Gene Reilly says in a release announcing the deal. That notion is underscored by the occupant of the park, a global technology firm whose laptop division uses space for R&D, manufacturing and distribution.

Besides the existing complex, which brings the amount of space operated by AMB in Guadalajara to 2.6 million sf, the San Francisco-based real estate investment trust secured rights to develop another 1.5 million sf of industrial space on an adjacent site. “We now have a sizeable parcel that provides us with increased flexibility to meet future requirements for class A development,” said Kim Snyder, AMB’s managing director, southwest region, who adds that, “we continue to see customer demand gain momentum for highly efficient, sizable and well-located facilities in Guadalajara, as well as Mexico overall.”

The latest agreement gives AMB a Mexico portfolio of 5.7 million sf of existing space. Other markets where the REIT is active are in Mexico City, Monterrey and Queretaro, while Snyder says AMB is also targeting Tijuana for future investment. Focused on modern industrial properties located near airports, ground transportation systems and seaports, AMB controlled 128.2 million sf as of March 31, with an ownership presence in 40 markets and more than a dozen countries such as Canada, China, Italy and Korea.

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