New York-listed AMB Property Corporation announced it has signed two lease agreements for more than 9,500 m2 of industrial space in a development immediately adjacent to Madrid's Barajas International Airport (MAD).

The first agreement was signed with Panalpina, a provider of forwarding and logistics services, which has leased approximately 5,500 m2 in order to expand its operations in the Madrid market.

The second agreement is with Newrest, a catering company with a dedicated in-flight division, which has leased more than 4,000 m2 as their Spain and Portugal operations headquarters, flagship warehouse and food preparation facility.

'We are pleased to welcome these high-quality customers to our project. Panalpina is a top 10 global AMB customer who now leases from us in nine markets, and Newrest is a valued new addition to our customer list,' said Mo Barzegar, AMB's managing director, Europe.

AMB Barajas Logistics Park totals 41,200 m2.

As of June 30, 2009, AMB's portfolio in Europe totalled more than 1.3 million m2 of operating and development facilities.

The portfolio includes space in air cargo facilities at Amsterdam Airport Schiphol, Brussels Zaventem Airport, Charles de Gaulle International Airport in Paris, Frankfurt International Airport and Heathrow Airport in London, in addition to Madrid Barajas International Airport.