AMB Property Acquires Industrial Complex Near Port Of Hamburg [AMB]

AMB Property Corp. (AMB) on Tuesday announced it has acquired an industrial complex near the Port of Hamburg comprising more than 930,000 square feet of existing buildings and 16 acres of land capable of supporting approximately 414,000 square feet of additional development. Kuehne + Nagel, an AMB global customer, leased approximately 402,000 square feet of the park in connection with this purchase. AMB intends to maximize the build-out potential of the site through a phased development and redevelopment plan.