AMB starts first phase of development in Le Havre (FR)
Friday 13 June 2008
AMB Property France, an affiliate of AMB Property Corporation®, has started development on 41,500 m² of distribution space near the Port of Le Havre. AMB Le Havre Logistics Park is a two-building, multi-phase development located in the Le Havre submarket.
The first phase of this development - totaling more than 29,000 m² - is expected to be completed in the fourth quarter of 2008. The second phase is expected to follow at the end of 2009. The site has direct access to the A29, a major highway connecting Copenhagen to Lisbon, and is located within 20 kilometers of Le Havre container terminal. The Port of Le Havre is France’s largest container port with 25% cargo growth in 2007. Container traffic in the first quarter of 2008 was up 13.8% compared to the first quarter of 2007.
“The Seine River Valley Corridor links the metropolitan areas of Le Havre, Rouen and Paris. These three ports combined with the area’s developed and well-maintained infrastructure form a high-demand gateway for international trade in France,” said François Rispe, vice president, general manager, France. “We are very pleased to enter this port corridor, which is a viable alternative to the Antwerp-Lille-Paris axis, with land to support the development of state-of-the-art distribution space.”
As of March 31, 2008, AMB’s portfolio in Europe totaled more than approximately 1 million m² of operating and development properties, 387,000 m² of which is located in France.
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