San Francisco development and industrial real estate firm AMB Property has let out 178,000 sq ft of its new industrial development in east London.
The commercial property measures 320,000 sq ft in total – and AMB bought it over as recently as October of this year. Its first let is to direct mail company DSICMM. The development represents AMB’s first foray into the UK market.
"Leasing a significant portion of AMB East London Distribution Park just weeks after bringing it into our portfolio underscores the property’s strategic location," Mo Barzegar, AMB’s managing director for Europe, commented.
"Our first customer in the UK was attracted to the superior functionality, modern specifications, and ideal London submarket location of this high-quality development."
"AMB is pleased to welcome DSICMM to its new state-of-the-art printing, distribution and mailing facility."
DSICMM is leasing the property on a ten-year term. It is one of the UK’s largest direct mail company’s, servicing a plethora of FTSE Top 100 companies, says AMB.