AMB Property Corporation(R) Leases 590,000 SF in Toronto, Stabilizing 1.1 Million SF Development

AMB Property Corporation®, a leading global developer and owner of industrial real estate, announced it has leased more than 590,000 square feet (54,800 square meters) to a wholly-owned subsidiary of a Fortune 100 company, stabilizing its more than 1.1 million square foot (104,300 square meter) development in the Greater Toronto Area (GTA) West submarket.

“The fact that AMB has fully leased a 1.1 million square foot development six months ahead of projected stabilization demonstrates just how focused companies are right now on streamlining operations, even in this challenging environment. We are continuing to see demand for infill-located, Class A facilities at our core hub and gateway markets,” said Eugene F. Reilly, president of AMB’s Americas region.

“A lease of this size with a 10-year term is a significant transaction for AMB in the GTA, North America’s fourth largest industrial market, where our operating portfolio was approximately 97 percent leased as of September 30th,” commented Jay Cornforth, managing director of AMB’s East Region. “Key customers in this market include UPS, Hershey, 3M and Sysco Foods, and we’re pleased to welcome this new company to AMB Airport Road Distribution Centre.”

As previously announced, AMB leased more than 532,000 square feet (49,500 square meters) of the development to Vitran Logistics, a wholly-owned subsidiary of Vitran Corporation Inc., a leading North American less-than- truckload and supply chain services provider who is operating the warehouse for a leading Canadian retailer. The property’s proximity to the Trans-Canada Highway, major intermodal rail yards and the airport provides rapid access to the GTA and significant portions of the Canadian consumer base and U.S. population.

As of September 30, 2008, AMB’s portfolio in the Greater Toronto Area totaled more than 4.3 million square feet (401,700 square meters) of operating and under development properties.

AMB Property Corporation.® Local partner to global trade.(TM)

AMB Property Corporation® is a leading global developer and owner of industrial real estate, focused on major hub and gateway distribution markets in the Americas, Europe and Asia. As of September 30, 2008, AMB owned, or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 158.4 million square feet (14.7 million square meters) in 49 markets within 15 countries. AMB invests in properties located predominantly in the infill submarkets of its targeted markets. The company’s portfolio is comprised of High Throughput Distribution® facilities-industrial properties built for speed and located near airports, seaports and ground transportation systems.