AMB Property Corporation(R) Leases 440,000 SF in Hamburg

Fully leases 328,000 SF facility near Port of Hamburg; leases 112,000 SF at
Altenwerder Container Terminal

SAN FRANCISCO, July 7 /PRNewswire-FirstCall/ -- AMB Property Corporation(R)
(NYSE: AMB), a leading owner, operator and developer of industrial real
estate, today announced that it has fully leased a 328,000 square foot (30,500
square meter) facility at AMB Hausbruch Industrial Center in Hamburg to BSN
medical GmbH, a leading global medical device company. The new lease,
effective July 1, 2009, renews BSN medical's previous commitment to 210,000
square feet (19,500 square meters), and increases their lease by 118,000
square feet (11,000 square meters) of additional space.

"AMB adapted to market conditions in our management of this infill asset. We
acquired the site as part of our AMB Hausbruch Industrial Center, with plans
to demolish the building and develop a modern distribution facility in its
place. However, we were able to meet the needs of a highly respected customer
for 10 more years, and to significantly expand their leased space," said Mo
Barzegar, AMB's managing director, Europe.

"We are extremely pleased that AMB was able to offer us long-term
accommodation for our production center at this strategic location, which is
close to our Global R&D facility and BSN's head office, ensuring both close
communication and a strong talent base," said Dr. Claus-Hermann Wiegel,
managing director of BSN medical.

AMB Hamburg Hausbruch Industrial Park is located approximately one mile from
the Altenwerder Terminals of the Port of Hamburg and approximately five miles
from Hamburg city center. The site has immediate access to the A7 highway, the
main north/south arterial through the region that intersects with the A1
highway, connecting Hamburg with the Rhine-Ruhr region, Germany's most densely
populated and industrialized region.

Additionally, AMB has leased approximately 112,000 square feet (10,400 square
meters) with a cargo transportation company in AMB Altenwerder Distribution
Center 1, a modern facility proximate to Hamburg's Container Terminal
Altenwerder, the Altenwerder rail spurs and the A7 motorway, providing
multimodal access to customers.

As of March 31, 2009, AMB's Europe portfolio consisted of approximately 13.9
million square feet (1.3 million square meters) of logistics and distribution
properties, more than 3.9 million square feet (347,900 square meters) of which
is located in Germany.

AMB Property Corporation.(R) Local partner to global trade.(TM)

AMB Property Corporation(R) is a leading owner, operator and developer of
industrial real estate, focused on major hub and gateway distribution markets
in the Americas, Europe and Asia. As of March 31, 2009, AMB owned, or had
investments in, on a consolidated basis or through unconsolidated joint
ventures, properties and development projects expected to total approximately
159.0 million square feet (14.8 million square meters) in 48 markets within 14
countries. AMB invests in properties located predominantly in the infill
submarkets of its targeted markets. The company's portfolio is comprised of
High Throughput Distribution(R) facilities -- industrial properties built for
speed and located near airports, seaports and ground transportation systems.

AMB's press releases are available on the company website at www.amb.com or by
contacting the Investor Relations department at +1 415 394 9000.

Some of the information included in this press release contains
forward-looking statements such as those related to the occupation of AMB
Hamburg Hausbruch Industrial Center for the 10-year lease with BSN medical and
the occupation of AMB Altenwerder Distribution Center 1, which are made
pursuant to the safe-harbor provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities Act of
1933, as amended. Because these forward-looking statements involve risks and
uncertainties, there are important factors that could cause our actual results
to differ materially from those in the forward-looking statements, and you
should not rely on the forward-looking statements as predictions of future
events. The events or circumstances reflected in forward-looking statements
might not occur. You can identify forward-looking statements by the use of
forward-looking terminology such as "believes," "expects," "may," "will,"
"should," "seeks," "approximately," "intends," "plans," "pro forma,"
"estimates" or "anticipates" or the negative of these words and phrases or
similar words or phrases. You can also identify forward-looking statements by
discussions of strategy, plans or intentions. Forward-looking statements are
necessarily dependent on assumptions, data or methods that may be incorrect or
imprecise and we may not be able to realize them. We caution you not to place
undue reliance on forward-looking statements, which reflect our analysis only
and speak only as of the date of this press release or the dates indicated in
the statements. We assume no obligation to update or supplement
forward-looking statements. The following factors, among others, could cause
actual results and future events to differ materially from those set forth or
contemplated in the forward-looking statements: defaults on or non-renewal of
leases by tenants or renewal at lower than expected rent or failure to lease
at all or on favorable terms, decreases in real estate values and impairment
losses, increased interest rates and operating costs or greater than expected
capital expenditures, our failure to obtain, renew or extend necessary
financing, re-financing risks, risks related to our obligations in the event
of certain defaults under co-investment ventures and other debt, risks related
to debt and equity security financings (including dilution risk), difficulties
in identifying properties to acquire and in effecting acquisitions, our
failure to successfully integrate acquired properties and operations, our
failure to divest properties we have contracted to sell or to timely reinvest
proceeds from any divestitures, our failure to contribute properties to our
co-investment ventures, risks and uncertainties affecting property
development, value-added conversions, redevelopment and construction
(including construction delays, cost overruns, our inability to obtain
necessary permits and public opposition to these activities), our failure to
qualify and maintain our status as a real estate investment trust, risks
related to our tax structuring, failure to maintain our current credit agency
ratings or to comply with our debt covenants, environmental uncertainties,
risks related to natural disasters, financial market fluctuations, changes in
general economic conditions, global trade or in the real estate sector,
inflation risks, changes in real estate and zoning laws, a continued or
prolonged downturn in the U.S., California or global economy, risks related to
doing business internationally and global expansion, risks of opening offices
globally, risks of changing personnel and roles, losses in excess of our
insurance coverage, unknown liabilities acquired in connection with acquired
properties or otherwise and increases in real property tax rates. Our success
also depends upon economic trends generally, including interest rates, income
tax laws, governmental regulation, legislation, population changes and certain
other matters discussed under the heading "Risk Factors" and elsewhere in our
annual report on Form 10-K for the year ended December 31, 2008.

SOURCE AMB Property Corporation

Tracy A. Ward, Vice President, IR & Corporate Communications, +1-415-733-9565,
tward@amb.com