Stream Realty Partners, L.P. Completes Sale of 19220 Kenswick Drive on Behalf of AMB Property Corporation(R) (NYSE: AMB)

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Apr 01, 2010, 10:00 ET

HOUSTON, April 1 /PRNewswire/ -- Stream Realty Partners, L.P. announced the sale of 19220 Kenswick Drive, a 96,250 square foot industrial building that was designed for and fully leased by Forward Air Corporation, which is a leading provider of time-definite surface transportation and related logistics services to the North American air freight and expedited LTL market. Construction was finalized in January 2010. The building currently sits on 9.5 acres and boasts a 24' clear height with the ability for both dock high and grade level loading.

Adam Jackson, Kyle Valentine and Justin Robinson of Stream Realty Partners, L.P. represented the seller, AMB Property Corporation®, which is headquartered in San Francisco, California. Dan Zoch of The Carson Companies represented the buyer, The Carson Companies, out of Newport Beach, California.

"The Forward Air development gives The Carson Companies a stable return from an asset that is leased by such a great company that continues to gain market share across North America. Another factor in The Carson Company's interest was the quality of the building and its proximity to the international freight forwarding terminal on the east side of Houston's George Bush Intercontinental Airport," said Jackson.

About AMB Property Corporation®:

AMB Property Corporation® is a leading owner, operator and developer of industrial real estate focused on the world's busiest distribution markets in the Americas, Europe and Asia. The Company operates as a publicly traded real estate investment trust ("REIT") and invests in properties located predominantly in the infill submarkets of its targeted markets. AMB serves approximately 2,600 customers in 47 markets in 14 countries with a portfolio of 155.1 million square feet. The Company's portfolio comprises High Throughput Distribution facilities—industrial properties built for speed located near key seaports, airports and major freeway interchanges. Their product is essential to creating efficiencies in the supply chain and our business encompasses a blend of real estate, global logistics and infrastructure.

About The Carson Companies:

The Carson Companies is one of Southern California and Houston, Texas' leading providers of buildings ideally suited for the logistics, distribution and supply chain management business. The Company is organized as a private Real Estate Investment Trust and has been in business for almost 100 years. Headquartered in Newport Beach, California with offices in Carson, California and Houston, Texas, The Carson Companies is a developer and long-term owner of industrial property with property management, asset management, leasing, construction management and development capabilities.

About Stream Realty Partners, L.P.:

Stream Realty Partners, L.P. is a full service real estate investment, development and services firm. Since its founding in 1996, Stream has grown dramatically from its two original partners to a staff of over 300 real estate professionals. Stream leases and/or manages over 60 million square feet of commercial buildings across the United States, completes over $1 billion in real estate transactions annually, and is considered one of the most active investors and developers in the Southwest.

SOURCE Stream Realty Partners, L.P.