AMB Leases 157,000 SF at Madrid Airport

AMB Property Corp. has announced it has leased more than 157,000 square feet  of a development immediately adjacent to Madrid’s Barajas International Airport. The airport is one of Europe’s top ten cargo airports. The development has been leased to three customers. One of them is Leche Pascual, a manufacturer of dairy products, food and beverages. It has leased 104,000 square feet of space.”Madrid’s Barajas International Airport has undergone significant expansion recently, including the construction of two runways, a new domestic terminal and an international terminal,” Mo Barzegar, AMB’s managing director, Europe, noted in a statement. AMB Barajas Logistics Park is is located across the street from the eastern perimeter of the airport’s cargo zone, providing rapid distribution access to the airport.The park totals more than 444,000 square feet. As of June 30, 2008, AMB’s portfolio in Europe totaled more than 13 million square feet of facilities operating and under development, including air cargo facilities at Amsterdam Airport Schiphol, Brussels Zaventem Airport, Charles de Gaulle International Airport in Paris, Frankfurt International Airport and Heathrow Airport in London, in addition to Madrid Barajas International Airport. AMB owned as of June, or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 155.5 million square feet in 47 markets within 15 countries.