AMB Property Corporation has confirmed that it has made its UK debut, as tipped in Property Week last week.
The US-listed REIT has bought an industrial site in Dagenham, Essex that comprises 320,000 sq ft in two newly-built sheds.
Guy Jaquier, AMB’s president in Europe and Asia said: ‘Our expansion to the United Kingdom further establishes AMB as a major provider of industrial distribution space in strategic markets integral to global trade.
‘AMB has entered the UK with a high-quality development property designed to provide our customers with superior functionality and modern specifications in the high-demand Greater London area.’
The park will be rebranded as AMB East London Distribution Park.
Mo Barzegar, managing director Europe said: ‘This is a terrific location from which to launch our business in the UK. This well-located property enables us to respond to customer demand for newly developed distribution space in a key supply-constrained London submarket.’
AMB’s Europe portfolio now totals more than 9m sq ft. It has announced 795,000 sq ft of acquisitions since the end of the second quarter this year.