AMB Announces 2 Leases Near Madrid Airport

SAN FRANCISCO (AP) — Two companies have leased a total of 102,000 square feet of industrial space next to Madrid's Barajas International Airport, AMB Property Corp. said in a statement issued Tuesday.

Forwarding and logistics services company Panalpina leased about 59,000 square feet to expand its Madrid-area operations, while the Newrest catering company, with an in-flight division, leased 43,000 square feet to house its Spain-Portugal operations, a warehouse and food preparation facility, the statement said.

AMB's Barajas Logistics Park has 444,000 square feet of space, and its portfolio in Europe totals more than 14 million square feet, the company said.

The San Francisco-based AMB is a global owner, operator and developer of industrial real estate in the Americas, Europe and Asia.

AMB shares closed Tuesday at $21.45, up 71 cents, or 3.4 percent.