AMB Property Corporation Provides an Update on Its Japan Platform

AMB Property Corporation®

today provided an update on its platform in Japan. The company confirms that all AMB employees and customers are safe and uninjured. AMB plans to reopen its Tokyo office on Tuesday, March 22, which had been closed due to transportation disruptions and uncertainty associated with the situation at the Fukushima Daiichi nuclear power plant. Following a completion of engineering assessments, the company has determined that damage to its buildings, with the exception of its building in Sendai, is minimal and the buildings are fully operational. The company is targeting a fully operational Sendai property in approximately 30 days. AMB's portfolio in Japan comprises 10.6 million square feet of properties in operations or under development. The company's 420,000 square foot building in Sendai experienced moderate non-structural damage. For all facilities, repairs are complete or are underway under previously arranged emergency response contracts. AMB is providing temporary space to displaced customers and relief agencies supporting recovery efforts.