UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------------
FORM 10-K/A
Amendment No. 1
---------------------
(MARK ONE)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
COMMISSION FILE NUMBER 001-13545
AMB PROPERTY CORPORATION
((Exact name of Registrant as specified in its charter)
MARYLAND 94-3281941
(State or Other Jurisdiction of (IRS Employer Identification No.)
Incorporation or Organization)
PIER 1, BAY 1, 94111
SAN FRANCISCO, CALIFORNIA (Zip Code)
(Address of Principal Executive Offices)
(415) 394-9000
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
(TITLE OF EACH CLASS) (NAME OF EACH EXCHANGE ON WHICH REGISTERED)
--------------------- -------------------------------------------
Common Stock, $.01 par value New York Stock Exchange
6 1/2% Series L Cumulative Redeemable Preferred
Stock
6 3/4% Series M Cumulative Redeemable Preferred
Stock
SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
NONE
Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [ ]
Indicate by check mark whether the registrant is an accelerated filer (as
defined in Exchange Act Rule 12b-2). Yes [X] No [ ]
The aggregate market value of common shares held by non-affiliates of the
registrant (based upon the closing sale price on the New York Stock Exchange) on
June 30, 2003, was $2,196,704,854.
As of March 1, 2004, there were 81,849,795 shares of the Registrant's
common stock outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
Part III incorporates by reference the registrant's Proxy Statement for its
Annual Meeting of Stockholders which the registrant anticipates will be filed no
later than 120 days after the end of its fiscal year pursuant to Regulation 14A.
This Annual Report on Form 10-K for AMB Property Corporation for the year
ended December 31, 2003 is being amended to revise Part IV, Item 15(a) 1 and 2,
Exhibits, Financial Statements and Schedules, to delete certain additional
columns that were inadvertently included in the original filing and to correct
certain typographical errors.
PART IV
ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K
(a)(1) and (2) FINANCIAL STATEMENTS AND SCHEDULES:
The following consolidated financial information is included as a separate
section of this amendment no. 1 to the report on Form 10-K.
Schedule III - Real Estate and Accumulated Depreciation......................S-1
(a)(3) EXHIBITS:
EXHIBIT
NUMBER DESCRIPTION
------- -----------
23.1 Consent of PricewaterhouseCoopers LLP.
(c) EXHIBITS:
See Item 15(a)(3) above.
(d) FINANCIAL STATEMENT SCHEDULES:
See Item 15(a)(1) and (2) above.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, AMB Property Corporation has duly caused this amendment
no. 1 to the report to be signed on its behalf by the undersigned, thereunto
duly authorized on March 12, 2004.
AMB PROPERTY CORPORATION
By: /s/ MICHAEL A. COKE
------------------------------------
Michael A. Coke
Chief Financial Officer and
Executive Vice President
Pursuant to the requirements of the Securities Exchange Act of 1934, this
amendment no. 1 to the report has been signed below by the following persons on
behalf of AMB Property Corporation and in the capacities and on the dates
indicated.
NAME TITLE DATE
---- ----- ----
/s/ HAMID R. MOGHADAM* Chairman of the Board and Chief March 12, 2004
------------------------------------------------ Executive Officer
Hamid R. Moghadam (Principal Executive Officer)
/s/ W. BLAKE BAIRD* President and Director March 12, 2004
------------------------------------------------
W. Blake Baird
/s/ T. ROBERT BURKE* Director March 12, 2004
------------------------------------------------
T. Robert Burke
/s/ DAVID A. COLE* Director March 12, 2004
------------------------------------------------
David A. Cole
/s/ J. MICHAEL LOSH* Director March 12, 2004
------------------------------------------------
J. Michael Losh
/s/ FREDERICK W. REID* Director March 12, 2004
------------------------------------------------
Frederick W. Reid
/s/ JEFFREY L. SKELTON* Director March 12, 2004
------------------------------------------------
Jeffrey L. Skelton
NAME TITLE DATE
---- ----- ----
Director
------------------------------------------------
Thomas W. Tusher
/s/ CARYL B. WELBORN* Director March 12, 2004
------------------------------------------------
Caryl B. Welborn
/s/ MICHAEL A. COKE Chief Financial Officer and March 12, 2004
------------------------------------------------ Executive Vice President (Duly
Michael A. Coke Authorized Officer and Principal
Financial and Accounting Officer)
*By /s/ MICHAEL A. COKE
-----------------------------------
Michael A. Coke
Attorney-in-Fact
AMB PROPERTY CORPORATION
SCHEDULE III
CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2003
INITIAL COST TO COMPANY COSTS
NO. OF ------------------------ CAPITALIZED
BLDGS./ BUILDING & SUBSEQUENT
PROPERTY CTRS. LOCATION TYPE ENCUMBRANCES LAND IMPROVEMENTS TO ACQUISITION
-------- ------- -------- ---- ------------ -------- ------------- --------------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
ATLANTA
Airport Plaza................ 3 GA IND $ 4,444 $ 1,811 $ 5,093 $ 29
Airport South Business
Park....................... 7 GA IND 17,077 10,035 16,436 6,416
Amwiler-Gwinnett Industrial
Portfolio.................. 8 GA IND 5,454 5,888 17,690 3,073
Atlanta South Business
Park....................... 9 GA IND -- 8,047 24,180 2,127
Atlantic Distribution
Center..................... 1 GA IND 3,822 1,519 4,679 155
Norcross/Brookhollow
Portfolio.................. 4 GA IND -- 3,721 11,180 1,493
Northbrook Distribution
Center..................... 1 GA IND -- 1,039 3,481 983
Shawnee Industrial........... 1 GA IND -- 2,481 7,531 4,980
South Ridge at Hartsfield.... 1 GA IND 4,063 2,096 4,008 33
Southfield Industrial
Portfolio.................. 13 GA IND 34,088 13,585 35,730 6,506
Southfield Logistic Center... 2 GA IND 11,220 3,200 10,012 5,667
Southside Distribution
Center..................... 1 GA IND 1,151 766 2,480 --
Suwanee Creek Distribution
SGP........................ 2 GA IND 13,569 3,098 12,944 2,283
Suwanee Creek OP............. 3 GA IND 1,693 10,386 9,733
Sylvan Industrial............ 1 GA IND -- 1,946 5,905 327
CHICAGO
Addison Business Center...... 1 IL IND -- 1,060 3,228 248
Alsip Industrial............. 1 IL IND -- 1,200 3,744 263
AMB O'Hare Rosemont.......... 14 IL IND 9,519 3,197 8,995 1,564
AMB Port O'Hare.............. 2 IL IND 6,082 4,913 5,761 981
Arthur Distribution Center... 1 IL IND 6,250 2,726 5,216 176
Bedford Warehouse............ 1 IL IND 2,777 1,354 3,225 7
Belden Avenue................ 3 IL IND 10,018 5,491 13,655 218
Bensenville Industrial
Park....................... 13 IL IND 36,717 20,799 62,438 11,711
Bridgeview Industrial........ 1 IL IND -- 1,332 3,996 96
Chancellory Warehouse........ 1 IL IND 2,576 1,566 2,006 755
Chicago Industrial
Portfolio.................. 1 IL IND 1,548 762 2,285 242
Chicago Ridge Freight
Terminal................... 1 IL IND -- 3,705 3,576 19
Chicago/O'Hare Industrial
Portfolio.................. 5 IL IND 8,931 4,816 9,603 483
Elk Grove Village
Industrial................. 10 IL IND 16,843 7,060 21,739 3,510
Executive Drive.............. 1 IL IND -- 1,399 4,236 846
Hamilton Parkway............. 1 IL IND -- 1,554 4,703 226
Hintz Building............... 1 IL IND -- 420 1,259 308
Itasca Industrial
Portfolio.................. 6 IL IND -- 6,416 19,289 3,193
GROSS AMOUNT CARRIED AT 12/31/03
------------------------------------ YEAR OF DEPRECIABLE
BUILDING & TOTAL ACCUMULATED CONSTRUCTION/ LIFE
PROPERTY LAND IMPROVEMENTS COSTS(1)(2) DEPRECIATION ACQUISITION (YEARS)
-------- ------- ------------ ----------- ------------ ------------- -----------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
ATLANTA
Airport Plaza................ $ 1,811 $ 5,122 $ 6,933 $ 11 2003 5-40
Airport South Business
Park....................... 10,035 22,852 32,886 1,564 2001 5-40
Amwiler-Gwinnett Industrial
Portfolio.................. 5,888 20,763 26,650 4,386 1997 5-40
Atlanta South Business
Park....................... 8,047 26,307 34,354 4,907 1997 5-40
Atlantic Distribution
Center..................... 1,519 4,834 6,353 421 2000 5-40
Norcross/Brookhollow
Portfolio.................. 3,721 12,673 16,394 2,435 1997 5-40
Northbrook Distribution
Center..................... 1,039 4,464 5,503 900 2000 5-40
Shawnee Industrial........... 2,481 12,511 14,992 2,351 1999 5-40
South Ridge at Hartsfield.... 2,096 4,041 6,137 299 2001 5-40
Southfield Industrial
Portfolio.................. 13,585 42,235 55,820 3,277 1997 5-40
Southfield Logistic Center... 3,200 15,679 18,879 1,537 2002 5-40
Southside Distribution
Center..................... 766 2,480 3,246 124 2001 5-40
Suwanee Creek Distribution
SGP........................ 3,098 15,228 18,326 1,021 1998 5-40
Suwanee Creek OP............. 2,181 19,631 21,812 2,065 1998 5-40
Sylvan Industrial............ 1,946 6,232 8,178 716 1999 5-40
CHICAGO
Addison Business Center...... 1,060 3,475 4,535 301 2000 5-40
Alsip Industrial............. 1,200 4,007 5,207 625 1998 5-40
AMB O'Hare Rosemont.......... 3,197 10,560 13,757 1,015 1999 5-40
AMB Port O'Hare.............. 4,913 6,743 11,656 40 2001 5-40
Arthur Distribution Center... 2,726 5,392 8,118 406 2001 5-40
Bedford Warehouse............ 1,354 3,232 4,586 176 2001 5-40
Belden Avenue................ 5,491 13,873 19,365 1,595 1997 5-40
Bensenville Industrial
Park....................... 20,799 74,149 94,948 14,448 1997 5-40
Bridgeview Industrial........ 1,332 4,092 5,424 627 1997 5-40
Chancellory Warehouse........ 1,566 2,760 4,327 134 2002 5-40
Chicago Industrial
Portfolio.................. 762 2,527 3,289 417 1997 5-40
Chicago Ridge Freight
Terminal................... 3,705 3,595 7,300 212 2001 5-40
Chicago/O'Hare Industrial
Portfolio.................. 4,816 10,087 14,903 720 2001 5-40
Elk Grove Village
Industrial................. 7,060 25,249 32,308 2,038 1997 5-40
Executive Drive.............. 1,399 5,082 6,481 1,054 1997 5-40
Hamilton Parkway............. 1,554 4,929 6,483 815 1997 5-40
Hintz Building............... 420 1,567 1,987 265 1998 5-40
Itasca Industrial
Portfolio.................. 6,416 22,482 28,898 4,551 1997 5-40
S-2
AMB PROPERTY CORPORATION
SCHEDULE III
CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2003
INITIAL COST TO COMPANY COSTS
NO. OF ------------------------ CAPITALIZED
BLDGS./ BUILDING & SUBSEQUENT
PROPERTY CTRS. LOCATION TYPE ENCUMBRANCES LAND IMPROVEMENTS TO ACQUISITION
-------- ------- -------- ---- ------------ -------- ------------- --------------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Melrose Park................. 1 IL IND -- 2,936 9,190 2,076
NDP -- Chicago............... 3 IL IND -- 1,496 4,487 776
O'Hare Industrial
Portfolio.................. 13 IL IND -- 6,248 18,778 3,728
Poplar Gateway Truck
Terminal................... 1 IL IND -- 4,551 3,152 1
Stone Distributing Center.... 1 IL IND 3,034 2,242 3,266 --
Thorndale Distribution....... 1 IL IND 5,549 4,130 4,216 227
Touhy Cargo Terminal......... 1 IL IND -- 2,800 110 3,840
Windsor Court................ 1 IL IND -- 766 2,338 102
Wood Dale Industrial
(Includes Bonnie Lane)..... 5 IL IND 8,742 2,869 9,166 559
Yohan Industrial............. 3 IL IND 4,684 5,904 7,323 520
DALLAS/FT. WORTH
Addison Technology Center.... 1 TX IND -- 899 2,696 590
Dallas Industrial (Formerly
Texas Industrial
Portfolio)................. 12 TX IND -- 5,938 17,836 4,491
DFW Airfreight Portfolio..... 6 TX IND -- 950 8,492 848
Greater Dallas Industrial
Portfolio.................. 5 TX IND -- 5,633 18,414 1,490
Lincoln Industrial Center.... 1 TX IND -- 671 2,052 277
Lonestar Portfolio........... 7 TX IND 16,501 6,909 21,154 1,062
Northfield Distribution
Center..................... 5 TX IND 16,522 6,446 20,087 189
Richardson Tech Center....... 2 TX IND 5,101 1,524 5,887 1,452
Valwood Industrial........... 2 TX IND 3,524 1,983 5,989 1,896
West North Carrier Parkway... 1 TX IND 2,852 1,375 4,165 1,267
LOS ANGELES
Anaheim Industrial........... 1 CA IND -- 1,457 4,341 664
Artesia Industrial
Portfolio.................. 25 CA IND 48,901 22,758 68,254 8,141
Aviation Logistics Center.... 8 CA IND -- 22,141 19,178 --
Bell Ranch Distribution...... 5 CA IND -- 6,904 12,915 273
Cabrillo Distribution
Center..................... 1 CA IND 12,750 7,563 11,177 22
Carson Industrial............ 12 CA IND -- 4,231 10,418 4,088
Carson Town Center........... 2 CA IND 6,565 3,210 10,250
Chartwell Distribution
Center..................... 1 CA IND -- 2,711 8,191 153
Del Amo Industrial Center.... 1 CA IND -- 2,529 7,651 31
Eaves Distribution Center.... 3 CA IND 15,123 11,893 12,708 2,131
Ford Distribution Cntr....... 7 CA IND -- 24,557 22,046 2,596
Fordyce Distribution
Center..................... 1 CA IND 7,485 4,340 8,335 233
GROSS AMOUNT CARRIED AT 12/31/03
------------------------------------ YEAR OF DEPRECIABLE
BUILDING & TOTAL ACCUMULATED CONSTRUCTION/ LIFE
PROPERTY LAND IMPROVEMENTS COSTS(1)(2) DEPRECIATION ACQUISITION (YEARS)
-------- ------- ------------ ----------- ------------ ------------- -----------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Melrose Park................. 2,936 11,266 14,202 2,220 1997 5-40
NDP -- Chicago............... 1,496 5,264 6,759 1,016 1998 5-40
O'Hare Industrial
Portfolio.................. 6,248 22,506 28,754 4,087 1997 5-40
Poplar Gateway Truck
Terminal................... 4,551 3,152 7,703 79 2002 5-40
Stone Distributing Center.... 2,242 3,266 5,508 27 2003 5-40
Thorndale Distribution....... 4,130 4,443 8,572 202 2002 5-40
Touhy Cargo Terminal......... 2,800 3,950 6,750 16 2002 5-40
Windsor Court................ 766 2,440 3,206 398 1997 5-40
Wood Dale Industrial
(Includes Bonnie Lane)..... 2,869 9,724 12,594 758 1999 5-40
Yohan Industrial............. 5,904 7,843 13,747 116 2003 5-40
DALLAS/FT. WORTH
Addison Technology Center.... 899 3,286 4,185 661 1998 5-40
Dallas Industrial (Formerly
Texas Industrial
Portfolio)................. 5,938 22,327 28,266 4,852 1997 5-40
DFW Airfreight Portfolio..... 950 9,339 10,290 1,137 2000 5-40
Greater Dallas Industrial
Portfolio.................. 5,633 19,904 25,536 4,136 1997 5-40
Lincoln Industrial Center.... 671 2,328 2,999 478 1997 5-40
Lonestar Portfolio........... 6,909 22,216 29,126 961 1997 5-40
Northfield Distribution
Center..................... 6,446 20,276 26,722 901 2002 5-40
Richardson Tech Center....... 1,524 7,339 8,863 271 1997 5-40
Valwood Industrial........... 1,983 7,885 9,868 1,830 1997 5-40
West North Carrier Parkway... 1,375 5,432 6,807 829 1997 5-40
LOS ANGELES
Anaheim Industrial........... 1,457 4,505 5,962 947 1997 5-40
Artesia Industrial
Portfolio.................. 22,758 76,896 99,654 14,344 1997 5-40
Aviation Logistics Center.... 22,141 19,178 41,319 120 2003 5-40
Bell Ranch Distribution...... 6,904 13,188 20,092 913 2001 5-40
Cabrillo Distribution
Center..................... 7,563 11,199 18,762 281 2002 5-40
Carson Industrial............ 4,231 14,507 18,738 1,833 1999 5-40
Carson Town Center........... 6,565 13,459 20,025 575 2000 5-40
Chartwell Distribution
Center..................... 2,711 8,344 11,055 763 2000 5-40
Del Amo Industrial Center.... 2,529 7,682 10,211 626 2000 5-40
Eaves Distribution Center.... 11,893 14,838 26,732 1,040 2001 5-40
Ford Distribution Cntr....... 24,557 24,642 49,198 1,652 2001 5-40
Fordyce Distribution
Center..................... 4,340 8,568 12,908 680 2001 5-40
S-3
AMB PROPERTY CORPORATION
SCHEDULE III
CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2003
INITIAL COST TO COMPANY COSTS
NO. OF ------------------------ CAPITALIZED
BLDGS./ BUILDING & SUBSEQUENT
PROPERTY CTRS. LOCATION TYPE ENCUMBRANCES LAND IMPROVEMENTS TO ACQUISITION
-------- ------- -------- ---- ------------ -------- ------------- --------------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Harris Business Center -- AF
I.......................... 10 CA IND 26,818 19,273 26,288 1,637
Harris Business Center -- AF
II......................... 9 CA IND 32,992 20,772 31,050 1,189
Hawthorne LAX Cargo Center... 1 CA IND 8,434 2,775 8,377 264
International Multifoods..... 1 CA IND -- 1,613 4,879 1,011
L.A. County Industrial
Portfolio.................. 6 CA IND 22,809 9,430 29,242 2,653
LA Media Tech Center......... 2 CA IND -- 4,588 12,531 4,419
LAX Logistics Center......... 2 CA IND -- 29,622 24,513 1,415
Los Nietos Business Center... 4 CA IND 7,974 2,488 7,751 335
NDP -- Los Angeles........... 6 CA IND -- 5,948 17,844 2,491
Normandie Industrial......... 1 CA IND -- 2,398 7,491 1,641
Northpointe Commerce......... 2 CA IND -- 1,773 5,358 437
Park One at LAX.............. -- CA IND -- 75,000 431 66
Pioneer Alburtis............. 5 CA IND 8,278 2,482 7,166 781
Slauson Distribution
Center..................... 8 CA IND 26,194 7,806 23,552 2,886
Stadium Business Park........ 9 CA IND -- 3,768 11,345 1,317
Sunset Distribution Center... 2 CA IND -- 6,718 2,765 1,635
Systematics.................. 1 CA IND -- 911 2,773 620
Torrance Commerce Center..... 6 CA IND -- 2,045 6,136 917
Van Nuys Airport
Industrial................. 4 CA IND -- 9,393 8,641 14,973
Walnut Drive................. 1 CA IND -- 964 2,918 744
Watson Industrial Center..... 1 CA IND 4,530 1,713 5,321 1,325
Wilmington Avenue Warehouse.. 2 CA IND -- 3,849 11,605 2,663
MIAMI
Beacon Centre -- AF I........ 4 FL IND 17,070 7,229 22,238 1,063
Beacon Centre -- OP.......... 18 FL IND 66,690 31,704 96,681 15,298
Beacon Industrial Park....... 8 FL IND -- 10,105 31,437 5,656
Blue Lagoon Business Park.... 2 FL IND -- 4,945 14,875 1,202
Dolphin Distribution
Center..................... 1 FL IND -- 1,581 3,602 --
Gratigny Distribution
Center..................... 1 FL IND -- 1,551 2,380 383
Marlin Distribution Center... 1 FL IND -- 1,076 2,169 311
Miami Airport Business
Center..................... 6 FL IND -- 6,400 19,634 3,156
Panther Distribution
Center..................... 1 FL IND -- 1,840 3,252 --
Sunrise Industrial........... 4 FL IND 11,643 6,266 18,798 3,220
NO. NEW JERSEY/NEW YORK
AMB Meadowlands Park......... 8 NJ IND -- 5,449 14,458 3,906
Dellamor..................... 8 NJ IND 14,408 12,061 11,577 303
GROSS AMOUNT CARRIED AT 12/31/03
------------------------------------ YEAR OF DEPRECIABLE
BUILDING & TOTAL ACCUMULATED CONSTRUCTION/ LIFE
PROPERTY LAND IMPROVEMENTS COSTS(1)(2) DEPRECIATION ACQUISITION (YEARS)
-------- ------- ------------ ----------- ------------ ------------- -----------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Harris Business Center -- AF
I.......................... 19,273 27,925 47,198 2,613 2000 5-40
Harris Business Center -- AF
II......................... 20,772 32,239 53,010 3,318 2000 5-40
Hawthorne LAX Cargo Center... 2,775 8,641 11,416 658 2000 5-40
International Multifoods..... 1,613 5,890 7,503 976 1997 5-40
L.A. County Industrial
Portfolio.................. 9,430 31,895 41,325 2,138 1997 5-40
LA Media Tech Center......... 4,588 16,950 21,539 2,204 1998 5-40
LAX Logistics Center......... 29,622 25,928 55,549 163 2003 5-40
Los Nietos Business Center... 2,488 8,086 10,574 622 1999 5-40
NDP -- Los Angeles........... 5,948 20,335 26,283 3,210 1998 5-40
Normandie Industrial......... 2,398 9,131 11,529 996 2000 5-40
Northpointe Commerce......... 1,773 5,795 7,568 1,052 1997 5-40
Park One at LAX.............. 75,000 497 75,497 11 2002 5-40
Pioneer Alburtis............. 2,482 7,947 10,429 673 1999 5-40
Slauson Distribution
Center..................... 7,806 26,438 34,244 2,213 2000 5-40
Stadium Business Park........ 3,768 12,662 16,430 2,266 1997 5-40
Sunset Distribution Center... 6,718 4,400 11,118 56 2002 5-40
Systematics.................. 911 3,393 4,304 628 1997 5-40
Torrance Commerce Center..... 2,045 7,053 9,099 1,302 1998 5-40
Van Nuys Airport
Industrial................. 9,393 23,614 33,007 2,480 2000 5-40
Walnut Drive................. 964 3,662 4,625 594 1997 5-40
Watson Industrial Center..... 1,713 6,646 8,358 419 2001 5-40
Wilmington Avenue Warehouse.. 3,849 14,268 18,117 2,386 1999 5-40
MIAMI
Beacon Centre -- AF I........ 7,229 23,301 30,530 2,069 2000 5-40
Beacon Centre -- OP.......... 31,704 111,980 143,683 11,979 2000 5-40
Beacon Industrial Park....... 10,105 37,094 47,199 6,335 1997 5-40
Blue Lagoon Business Park.... 4,945 16,077 21,022 2,817 1997 5-40
Dolphin Distribution
Center..................... 1,581 3,602 5,184 23 2003 5-40
Gratigny Distribution
Center..................... 1,551 2,763 4,314 106 2003 5-40
Marlin Distribution Center... 1,076 2,480 3,556 53 2003 5-40
Miami Airport Business
Center..................... 6,400 22,790 29,190 3,039 1999 5-40
Panther Distribution
Center..................... 1,840 3,252 5,091 20 2003 5-40
Sunrise Industrial........... 6,266 22,017 28,283 2,885 1998 5-40
NO. NEW JERSEY/NEW YORK
AMB Meadowlands Park......... 5,449 18,363 23,812 1,832 2000 5-40
Dellamor..................... 12,061 11,880 23,941 515 2002 5-40
S-4
AMB PROPERTY CORPORATION
SCHEDULE III
CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2003
INITIAL COST TO COMPANY COSTS
NO. OF ------------------------ CAPITALIZED
BLDGS./ BUILDING & SUBSEQUENT
PROPERTY CTRS. LOCATION TYPE ENCUMBRANCES LAND IMPROVEMENTS TO ACQUISITION
-------- ------- -------- ---- ------------ -------- ------------- --------------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Dock's Corner................ 1 NJ IND 35,748 5,125 22,516 28,417
Fairmeadows Portfolio........ 17 NJ IND 25,129 18,615 27,540 1,317
Highway 17................... 2 NJ IND -- 8,185 6,490 --
Interstate Crossdock......... 1 NJ IND -- 12,712 19,295 50
Jamesburg.................... 3 NJ IND 22,127 11,700 35,101 1,789
Linden Industrial............ 1 NJ IND -- 900 2,753 473
Mahwah Corporate Center...... 5 NJ IND -- 9,003 27,573 574
Meadow Lane 495.............. 1 NJ IND -- 838 2,594 282
Meadowlands AF II............ 4 NJ IND 12,212 6,755 13,093 1,900
Meadowlands Cross Dock....... 1 NJ IND -- 1,110 3,485 989
Moonachie Industrial......... 2 NJ IND 5,451 2,731 5,228 280
Murray Hill Parkway.......... 2 NJ IND -- 1,670 2,568 5,173
Newark Airport I & II........ 2 NJ IND 3,617 1,755 5,400 483
Orchard Hill................. 1 NJ IND -- 1,212 1,411 --
Porete Avenue Warehouse...... 1 NJ IND -- 4,067 12,202 4,502
Skyland Crossdock............ 1 NJ IND -- -- 7,250 253
Teterboro Meadowlands 15..... 1 NJ IND 9,750 4,961 9,618 1,273
Two South Middlesex.......... 1 NJ IND -- 2,247 6,781 1,043
JFK Air Cargo -- AF I........ 14 NY IND 18,807 10,210 29,730 3,664
JFK Air Cargo -- OP.......... 14 NY IND -- 15,834 45,694 4,112
JFK Airport Park............. 1 NY IND -- 2,350 7,251 631
ON TARMAC
AMB BWI Cargo Center......... 1 MD IND 2,749 -- 6,367 87
AMB DAY Cargo Center......... 5 OH IND 6,625 -- 7,163 428
AMB DFW Cargo Center 1....... 1 TX IND 15,949 -- 19,683 3,869
AMB DFW Cargo Center 2....... 1 TX IND -- -- 4,286 13,950
AMB DFW Cargo Center East.... 3 TX IND 6,042 -- 20,632 281
AMB IAD Cargo Center......... 1 VA IND 12,675 -- 38,840 --
AMB IAH Cargo Center......... 1 TX IND 7,292 -- 339 8,951
AMB JAX Cargo Center......... 1 FL IND 3,050 -- 3,029 --
AMB JFK Cargo Center 75&77... 2 NJ IND -- -- 30,965 2,604
AMB LAS Cargo Center......... 5 NV IND -- -- 24,072 604
AMB LAX Cargo Center......... 3 CA IND 7,337 -- 13,445 130
AMB MCI Cargo Center 1....... 1 MO IND 5,035 -- 5,793 164
AMB MCI Cargo Center 2....... 1 MO IND 9,150 -- 8,134 --
AMB PDX Carto Center......... 2 OR IND -- -- 26 9,887
AMB PHL Air Cargo Center..... 1 PA IND -- -- 9,716 290
AMB RNO Cargo Center......... 2 NV IND -- -- 6,014 192
GROSS AMOUNT CARRIED AT 12/31/03
------------------------------------ YEAR OF DEPRECIABLE
BUILDING & TOTAL ACCUMULATED CONSTRUCTION/ LIFE
PROPERTY LAND IMPROVEMENTS COSTS(1)(2) DEPRECIATION ACQUISITION (YEARS)
-------- ------- ------------ ----------- ------------ ------------- -----------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Dock's Corner................ 13,672 42,386 56,058 3,531 1997 5-40
Fairmeadows Portfolio........ 18,615 28,857 47,472 90 2003 5-40
Highway 17................... 8,185 6,490 14,675 197 2002 5-40
Interstate Crossdock......... 12,712 19,345 32,057 700 2002 5-40
Jamesburg.................... 11,700 36,890 48,591 6,022 1998 5-40
Linden Industrial............ 900 3,225 4,125 438 1999 5-40
Mahwah Corporate Center...... 9,003 28,147 37,150 4,275 1998 5-40
Meadow Lane 495.............. 838 2,876 3,714 385 1999 5-40
Meadowlands AF II............ 6,755 14,992 21,747 1,202 2001 5-40
Meadowlands Cross Dock....... 1,110 4,474 5,584 631 2000 5-40
Moonachie Industrial......... 2,731 5,508 8,239 449 2001 5-40
Murray Hill Parkway.......... 1,670 7,741 9,411 1,610 1999 5-40
Newark Airport I & II........ 1,755 5,883 7,638 694 2000 5-40
Orchard Hill................. 1,212 1,411 2,622 47 2002 5-40
Porete Avenue Warehouse...... 4,067 16,704 20,772 2,407 1998 5-40
Skyland Crossdock............ -- 7,503 7,503 268 2002 5-40
Teterboro Meadowlands 15..... 4,961 10,892 15,853 1,117 2001 5-40
Two South Middlesex.......... 2,247 7,825 10,072 1,527 1997 5-40
JFK Air Cargo -- AF I........ 10,210 33,394 43,604 4,084 2000 5-40
JFK Air Cargo -- OP.......... 15,834 49,806 65,639 5,571 2000 5-40
JFK Airport Park............. 2,350 7,881 10,231 837 2000 5-40
ON TARMAC
AMB BWI Cargo Center......... -- 6,454 6,454 542 2000 5-40
AMB DAY Cargo Center......... -- 7,591 7,591 749 2000 5-40
AMB DFW Cargo Center 1....... -- 23,553 23,553 3,096 1999 5-40
AMB DFW Cargo Center 2....... -- 18,237 18,237 2,031 1999 5-40
AMB DFW Cargo Center East.... -- 20,913 20,913 1,772 2000 5-40
AMB IAD Cargo Center......... -- 38,841 38,841 1,485 2002 5-40
AMB IAH Cargo Center......... -- 9,290 9,290 76 2000 5-40
AMB JAX Cargo Center......... -- 3,029 3,029 245 2000 5-40
AMB JFK Cargo Center 75&77... -- 33,569 33,569 1,374 2002 5-40
AMB LAS Cargo Center......... -- 24,676 24,676 543 2003 5-40
AMB LAX Cargo Center......... -- 13,574 13,574 1,110 2000 5-40
AMB MCI Cargo Center 1....... -- 5,957 5,957 519 2000 5-40
AMB MCI Cargo Center 2....... -- 8,134 8,134 642 2000 5-40
AMB PDX Carto Center......... -- 9,913 9,913 630 2002 5-40
AMB PHL Air Cargo Center..... -- 10,005 10,005 889 2000 5-40
AMB RNO Cargo Center......... -- 6,206 6,206 146 2003 5-40
S-5
AMB PROPERTY CORPORATION
SCHEDULE III
CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2003
INITIAL COST TO COMPANY COSTS
NO. OF ------------------------ CAPITALIZED
BLDGS./ BUILDING & SUBSEQUENT
PROPERTY CTRS. LOCATION TYPE ENCUMBRANCES LAND IMPROVEMENTS TO ACQUISITION
-------- ------- -------- ---- ------------ -------- ------------- --------------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
AMB SEA Air Cargo Center
314........................ 1 WA IND 2,902 -- 2,939 --
AMB SEA Cargo Center North... 2 WA IND 4,616 -- 15,594 82
AMB SEA Cargo Center South... 1 WA IND -- -- 3,056 206
SAN FRANCISCO BAY AREA
Acer Distribution Center..... 1 CA IND -- 3,146 9,479 2,478
Albrae Business Center....... 1 CA IND 7,730 6,299 6,227 650
Alvarado Business Center..... 5 CA IND 23,828 6,342 26,671 9,113
Brennan Distribution......... 1 CA IND 4,163 3,683 3,022 2,193
Central Bay.................. 2 CA IND 6,951 3,896 7,400 1,165
Component Drive Industrial
Portfolio.................. 3 CA IND -- 12,688 6,974 761
Concord Industrial
Portfolio.................. 10 CA IND 10,475 3,872 11,647 2,487
Dado Distribution............ 1 CA IND -- 7,221 3,739 953
Diablo Industrial Park....... 12 CA IND 8,829 3,379 10,489 1,144
Doolittle Distribution
Center..................... 1 CA IND -- 2,644 8,014 678
Dowe Industrial Center....... 2 CA IND -- 2,665 8,034 2,003
Dublin Industrial
Portfolio.................. 1 CA IND -- 2,980 9,042 1,011
East Bay Doolittle........... 1 CA IND -- 7,128 11,023 2,035
East Bay Whipple............. 1 CA IND 6,894 5,333 8,126 1,635
East Grand Airfreight........ 2 CA IND 4,222 5,093 4,190 --
Edgewater Industrial
Center..................... 1 CA IND -- 4,038 15,113 4,482
Fairway Drive Industrial..... 4 CA IND 12,195 4,214 13,949 2,466
Hayward
Industrial -- Hathaway..... 2 CA IND -- 4,473 13,546 529
Hayward
Industrial -- Wiegman...... 1 CA IND 7,234 2,773 8,393 406
Junction Industrial Park..... 4 CA IND -- 7,875 23,975 1,652
Laurelwood Drive............. 2 CA IND -- 2,750 8,538 569
Lawrence SSF................. 1 CA IND -- 2,870 5,521 1,124
Marina Business ParK......... 2 CA IND 4,312 3,280 4,316 47
Martin/Scott Industrial
Portfolio.................. 2 CA IND -- 9,052 5,309 336
Milmont Page Business
Center..................... 3 CA IND 11,386 3,422 10,600 3,073
Moffett Business Center (MBC
Industrial)................ 4 CA IND -- 5,892 17,716 3,281
Moffett Distribution......... 7 CA IND 19,121 26,916 11,277 1,353
Moffett Park R&D Portfolio... 14 CA IND -- 14,805 44,462 9,448
Pacific Business Center...... 2 CA IND 8,642 5,417 16,291 1,747
GROSS AMOUNT CARRIED AT 12/31/03
------------------------------------ YEAR OF DEPRECIABLE
BUILDING & TOTAL ACCUMULATED CONSTRUCTION/ LIFE
PROPERTY LAND IMPROVEMENTS COSTS(1)(2) DEPRECIATION ACQUISITION (YEARS)
-------- ------- ------------ ----------- ------------ ------------- -----------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
AMB SEA Air Cargo Center
314........................ -- 2,939 2,939 -- 2003 5-40
AMB SEA Cargo Center North... -- 15,676 15,676 1,260 2000 5-40
AMB SEA Cargo Center South... -- 3,262 3,262 303 2000 5-40
SAN FRANCISCO BAY AREA
Acer Distribution Center..... 3,146 11,957 15,103 2,436 1997 5-40
Albrae Business Center....... 6,299 6,877 13,176 399 2001 5-40
Alvarado Business Center..... 6,342 35,784 42,126 2,154 1997 5-40
Brennan Distribution......... 3,683 5,215 8,898 436 2001 5-40
Central Bay.................. 3,896 8,565 12,460 800 2001 5-40
Component Drive Industrial
Portfolio.................. 12,688 7,735 20,423 653 2001 5-40
Concord Industrial
Portfolio.................. 3,872 14,134 18,006 2,415 1999 5-40
Dado Distribution............ 7,221 4,693 11,914 256 2001 5-40
Diablo Industrial Park....... 3,379 11,633 15,013 1,507 1999 5-40
Doolittle Distribution
Center..................... 2,644 8,692 11,336 920 2000 5-40
Dowe Industrial Center....... 2,665 10,037 12,702 1,825 1997 5-40
Dublin Industrial
Portfolio.................. 2,980 10,053 13,033 877 2000 5-40
East Bay Doolittle........... 7,128 13,058 20,186 1,039 2001 5-40
East Bay Whipple............. 5,333 9,761 15,094 663 2001 5-40
East Grand Airfreight........ 5,093 4,190 9,283 217 2003 5-40
Edgewater Industrial
Center..................... 4,038 19,595 23,633 1,962 2000 5-40
Fairway Drive Industrial..... 4,214 16,415 20,629 1,126 1997 5-40
Hayward
Industrial -- Hathaway..... 4,473 14,075 18,547 1,093 2000 5-40
Hayward
Industrial -- Wiegman...... 2,773 8,799 11,571 691 2000 5-40
Junction Industrial Park..... 7,875 25,627 33,502 3,667 1999 5-40
Laurelwood Drive............. 2,750 9,107 11,857 1,409 1997 5-40
Lawrence SSF................. 2,870 6,644 9,514 668 2001 5-40
Marina Business ParK......... 3,280 4,363 7,643 147 2002 5-40
Martin/Scott Industrial
Portfolio.................. 9,052 5,645 14,697 389 2001 5-40
Milmont Page Business
Center..................... 3,422 13,674 17,095 748 1997 5-40
Moffett Business Center (MBC
Industrial)................ 5,892 20,998 26,890 3,778 1997 5-40
Moffett Distribution......... 26,916 12,631 39,547 844 2001 5-40
Moffett Park R&D Portfolio... 14,805 53,910 68,715 13,329 1997 5-40
Pacific Business Center...... 5,417 18,039 23,456 3,136 1997 5-40
S-6
AMB PROPERTY CORPORATION
SCHEDULE III
CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2003
INITIAL COST TO COMPANY COSTS
NO. OF ------------------------ CAPITALIZED
BLDGS./ BUILDING & SUBSEQUENT
PROPERTY CTRS. LOCATION TYPE ENCUMBRANCES LAND IMPROVEMENTS TO ACQUISITION
-------- ------- -------- ---- ------------ -------- ------------- --------------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Pardee Drive................. 1 CA IND 1,533 619 1,880 274
Silicon Valley R&D
Portfolio.................. 5 CA IND -- 6,700 20,186 4,779
South Bay Industrial......... 8 CA IND 17,709 14,992 45,016 5,564
Utah Airfreight.............. 1 CA IND 17,433 18,753 8,381 316
Weigman Road................. 1 CA IND -- 1,563 4,688 1,550
Williams & Bouroughs......... 4 CA IND 7,908 2,382 6,981 3,309
Willow Park Industrial
Portfolio.................. 21 CA IND -- 25,590 76,771 12,596
Yosemite Drive............... 1 CA IND -- 2,350 7,051 753
Zanker/Charcot Industrial.... 5 CA IND -- 5,282 15,887 2,413
SEATTLE
Black River.................. 1 WA IND 3,420 1,845 3,559 285
Earlington Business Park..... 1 WA IND 4,238 2,766 3,234 326
East Valley Warehouse........ 1 WA IND -- 6,813 20,511 5,696
Gateway Corporate Center..... 9 WA IND 27,000 10,643 32,908 4,323
Gateway North................ 6 WA IND 14,000 5,270 16,296 1,497
Harvest Business Park........ 3 WA IND -- 2,371 7,153 1,197
Kent Centre Corporate Park... 4 WA IND -- 3,042 9,165 1,199
Kingsport Industrial Park.... 7 WA IND -- 8,101 23,812 4,104
NDP -- Seattle............... 4 WA IND 11,854 3,993 11,773 1,110
Northwest Distribution
Center..................... 3 WA IND -- 3,533 10,751 996
Puget Sound Airfreight....... 1 WA IND -- 1,329 1,830 255
Renton Northwest Corp.
Park....................... 6 WA IND 24,245 25,959 14,792 768
SEA Logistics Center 1....... 3 WA IND -- 9,218 18,968 21
SEA Logistics Center 2....... 3 WA IND 14,490 11,535 24,601 --
Seattle Airport Industrial... 1 WA IND -- 619 1,923 180
Trans-Pacific Industrial
Park....................... 11 WA IND 48,600 31,675 42,210 531
OTHER INDUSTRIAL MARKETS
Activity Distribution
Center..................... 4 CA IND -- 3,736 11,248 1,799
Scripps Sorrento............. 1 CA IND -- 1,110 3,330 101
Chancellor Square............ 3 FL IND 15,029 2,009 6,106 2,783
Presidents Drive............. 6 FL IND -- 5,770 17,655 1,990
Sand Lake Service Center..... 6 FL IND -- 3,483 10,585 2,805
Elmwood Business Park........ 5 LA IND -- 4,163 12,488 1,934
Boston Industrial
Portfolio.................. 18 MA IND 10,031 16,707 52,013 15,298
Cabot Business Park.......... 13 MA IND -- 15,283 46,433 4,635
Cabot Business Park (KYDJ)... 2 MA IND -- 1,474 14,353 8,404
Cabot Business Park SGP...... 3 MA IND 16,423 5,499 16,969 2,181
GROSS AMOUNT CARRIED AT 12/31/03
------------------------------------ YEAR OF DEPRECIABLE
BUILDING & TOTAL ACCUMULATED CONSTRUCTION/ LIFE
PROPERTY LAND IMPROVEMENTS COSTS(1)(2) DEPRECIATION ACQUISITION (YEARS)
-------- ------- ------------ ----------- ------------ ------------- -----------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Pardee Drive................. 619 2,154 2,773 153 1999 5-40
Silicon Valley R&D
Portfolio.................. 6,700 24,965 31,665 5,923 1997 5-40
South Bay Industrial......... 14,992 50,581 65,573 9,617 1997 5-40
Utah Airfreight.............. 18,753 8,697 27,450 116 2003 5-40
Weigman Road................. 1,563 6,239 7,802 982 1997 5-40
Williams & Bouroughs......... 2,382 10,290 12,673 1,234 1999 5-40
Willow Park Industrial
Portfolio.................. 25,590 89,367 114,957 14,703 1998 5-40
Yosemite Drive............... 2,350 7,804 10,154 1,245 1997 5-40
Zanker/Charcot Industrial.... 5,282 18,300 23,583 3,343 1997 5-40
SEATTLE
Black River.................. 1,845 3,844 5,689 377 2001 5-40
Earlington Business Park..... 2,766 3,560 6,327 172 2002 5-40
East Valley Warehouse........ 6,813 26,207 33,019 4,382 1999 5-40
Gateway Corporate Center..... 10,643 37,231 47,874 4,854 1999 5-40
Gateway North................ 5,270 17,792 23,062 2,106 1999 5-40
Harvest Business Park........ 2,371 8,350 10,721 1,665 1997 5-40
Kent Centre Corporate Park... 3,042 10,364 13,406 2,097 1997 5-40
Kingsport Industrial Park.... 8,101 27,917 36,017 4,963 1997 5-40
NDP -- Seattle............... 3,993 12,883 16,876 511 1998 5-40
Northwest Distribution
Center..................... 3,533 11,747 15,280 2,340 1997 5-40
Puget Sound Airfreight....... 1,329 2,084 3,413 122 2002 5-40
Renton Northwest Corp.
Park....................... 25,959 15,560 41,519 636 2002 5-40
SEA Logistics Center 1....... 9,218 18,990 28,208 120 2003 5-40
SEA Logistics Center 2....... 11,535 24,601 36,136 49 2003 5-40
Seattle Airport Industrial... 619 2,103 2,722 235 2000 5-40
Trans-Pacific Industrial
Park....................... 31,675 42,741 74,415 546 2003 5-40
OTHER INDUSTRIAL MARKETS
Activity Distribution
Center..................... 3,736 13,048 16,784 2,485 1997 5-40
Scripps Sorrento............. 1,110 3,432 4,542 513 1998 5-40
Chancellor Square............ 2,009 8,890 10,899 2,353 1998 5-40
Presidents Drive............. 5,770 19,644 25,414 3,747 1997 5-40
Sand Lake Service Center..... 3,483 13,390 16,872 2,810 1998 5-40
Elmwood Business Park........ 4,163 14,421 18,584 2,425 1998 5-40
Boston Industrial
Portfolio.................. 16,707 67,311 84,018 11,999 1998 5-40
Cabot Business Park.......... 16,329 50,022 66,351 9,340 1998 5-40
Cabot Business Park (KYDJ)... 1,823 22,408 24,232 3,543 1998 5-40
Cabot Business Park SGP...... 6,256 18,394 24,650 626 2002 5-40
S-7
AMB PROPERTY CORPORATION
SCHEDULE III
CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2003
INITIAL COST TO COMPANY COSTS
NO. OF ------------------------ CAPITALIZED
BLDGS./ BUILDING & SUBSEQUENT
PROPERTY CTRS. LOCATION TYPE ENCUMBRANCES LAND IMPROVEMENTS TO ACQUISITION
-------- ------- -------- ---- ------------ -------- ------------- --------------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Bennington Corporate
Center..................... 2 MD IND 5,854 2,671 8,181 962
B.W.I........................ 2 MD IND 3,454 2,258 5,149 174
Columbia Business Center..... 9 MD IND 3,752 3,856 11,736 2,117
Corridor Industrial.......... 1 MD IND 2,376 996 3,019 270
Crysen Industrial............ 1 MD IND 2,223 1,425 4,275 993
Gateway 58................... 3 MD IND -- 3,256 9,940 112
Gateway Commerce Center...... 5 MD IND -- 4,083 12,336 1,245
Greenwood Industrial......... 3 MD IND -- 4,729 14,188 2,250
Meadowridge Industrial....... 3 MD IND -- 3,716 11,147 360
Oakland Ridge Industrial
Center..................... 12 MD IND 4,236 3,297 19,207 7,075
Patuxent Alliance 8280....... 1 MD IND -- 887 1,706 34
Patuxent Range Road.......... 2 MD IND -- 1,696 5,127 564
Preston Court................ 1 MD IND -- 2,313 7,192 323
The Rotunda.................. 2 MD IND 12,468 4,400 17,736 3,487
Santa Barbara Court.......... 1 MD IND -- 1,617 5,029 881
Technology I................. 2 MD IND -- 1,657 5,049 374
Technology II................ 9 MD IND -- 10,206 3,761 30,155
Braemar Business Center...... 2 MN IND -- 1,566 4,613 1,074
Burnsville Business Center... 1 MN IND -- 932 2,796 1,130
Corporate Square
Industrial................. 6 MN IND -- 4,024 12,113 2,483
Edenvale Business Center..... 1 MN IND -- 775 2,412 960
Minneapolis Distribution
Portfolio.................. 4 MN IND -- 6,079 18,692 4,338
Mendota Heights.............. 1 MN IND -- 1,367 4,565 2,453
Minnetonka Industrial........ 10 MN IND 10,834 6,690 20,380 3,912
Minneapolis Industrial
Portfolio IV............... 4 MN IND 7,214 4,938 14,854 2,221
Penn James Office
Warehouse.................. 2 MN IND -- 1,991 6,013 1,175
Round Lake Business Center... 1 MN IND -- 875 2,625 586
Twin Cities.................. 2 MN IND -- 4,873 14,638 6,561
Chemway Industrial
Portfolio.................. 5 NC IND -- 2,875 8,625 1,051
CLT Logistics Center......... 11 NC IND -- 6,377 24,950 42
South Point Business Park.... 5 NC IND 8,329 3,130 10,452 1,712
Janitrol..................... 1 OH IND -- 1,797 5,390 365
Cascade Business Center...... 4 OR IND -- 2,825 7,860 2,321
Wilsonville.................. 1 OR IND -- 3,407 13,493 62
Corporate Park/Hickory
Hill....................... 7 TN IND 15,723 6,789 20,366 2,182
GROSS AMOUNT CARRIED AT 12/31/03
------------------------------------ YEAR OF DEPRECIABLE
BUILDING & TOTAL ACCUMULATED CONSTRUCTION/ LIFE
PROPERTY LAND IMPROVEMENTS COSTS(1)(2) DEPRECIATION ACQUISITION (YEARS)
-------- ------- ------------ ----------- ------------ ------------- -----------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Bennington Corporate
Center..................... 2,671 9,144 11,815 1,123 2000 5-40
B.W.I........................ 2,258 5,323 7,581 260 2002 5-40
Columbia Business Center..... 3,856 13,853 17,709 2,366 1999 5-40
Corridor Industrial.......... 996 3,289 4,285 439 1999 5-40
Crysen Industrial............ 1,425 5,268 6,693 1,018 1998 5-40
Gateway 58................... 3,256 10,052 13,308 918 2000 5-40
Gateway Commerce Center...... 4,083 13,580 17,664 2,167 1999 5-40
Greenwood Industrial......... 4,729 16,438 21,167 2,759 1998 5-40
Meadowridge Industrial....... 3,716 11,507 15,223 1,751 1998 5-40
Oakland Ridge Industrial
Center..................... 3,297 26,282 29,579 4,736 1999 5-40
Patuxent Alliance 8280....... 887 1,740 2,627 124 2001 5-40
Patuxent Range Road.......... 1,696 5,691 7,387 1,114 1997 5-40
Preston Court................ 2,313 7,515 9,827 1,331 1997 5-40
The Rotunda.................. 4,400 21,224 25,624 3,571 1999 5-40
Santa Barbara Court.......... 1,617 5,910 7,527 1,283 1997 5-40
Technology I................. 1,657 5,423 7,080 727 1999 5-40
Technology II................ 10,206 33,916 44,123 4,640 1999 5-40
Braemar Business Center...... 1,566 5,687 7,253 1,095 1998 5-40
Burnsville Business Center... 932 3,926 4,858 925 1998 5-40
Corporate Square
Industrial................. 4,024 14,596 18,620 2,985 1997 5-40
Edenvale Business Center..... 775 3,371 4,146 771 1998 5-40
Minneapolis Distribution
Portfolio.................. 6,079 23,030 29,109 4,134 1997 5-40
Mendota Heights.............. 1,367 7,019 8,385 2,728 1998 5-40
Minnetonka Industrial........ 6,690 24,292 30,982 4,298 1998 5-40
Minneapolis Industrial
Portfolio IV............... 4,938 17,074 22,012 3,416 1997 5-40
Penn James Office
Warehouse.................. 1,991 7,188 9,179 1,434 1997 5-40
Round Lake Business Center... 875 3,211 4,086 641 1998 5-40
Twin Cities.................. 4,873 21,198 26,071 4,221 1997 5-40
Chemway Industrial
Portfolio.................. 2,875 9,676 12,551 1,721 1998 5-40
CLT Logistics Center......... 6,377 24,992 31,368 156 2003 5-40
South Point Business Park.... 3,130 12,164 15,294 1,902 1998 5-40
Janitrol..................... 1,797 5,755 7,551 916 1997 5-40
Cascade Business Center...... 2,825 10,181 13,006 1,859 1998 5-40
Wilsonville.................. 3,407 13,555 16,962 2,008 1998 5-40
Corporate Park/Hickory
Hill....................... 6,789 22,548 29,337 3,534 1998 5-40
S-8
AMB PROPERTY CORPORATION
SCHEDULE III
CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2003
INITIAL COST TO COMPANY COSTS
NO. OF ------------------------- CAPITALIZED
BLDGS./ BUILDING & SUBSEQUENT
PROPERTY CTRS. LOCATION TYPE ENCUMBRANCES LAND IMPROVEMENTS TO ACQUISITION
-------- ------- -------- ---- ------------ ---------- ------------ --------------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Willow Lake
Industrial Park.... 10 TN IND 19,488 12,415 35,990 14,258
Metric Center........ 5 TX IND -- 10,968 32,944 1,734
TechRidge Phase II... 1 TX IND 11,277 7,261 13,484 229
TechRidge Phase IA... 3 TX IND 14,825 7,132 21,396 485
Beltway
Distribution....... 1 VA IND -- 4,800 15,159 5,533
Dulles Airport --
Alliance........... 5 VA IND 20,869 3,656 6,930 16,001
Peninsula Business
Center III......... 1 VA IND -- 992 2,976 359
Mexico Guadalajara... 5 Mexico IND -- 9,555 22,386 734
Mexico Mesquite
Distribution
Center............. 2 Mexico IND 16,994 4,192 247 11,853
Frankfurt Logistic
Center............. 1 Germany IND -- -- 19,875 639
Bourget Industrial... 1 France IND -- 10,058 23,843 1,541
Paris Nord Dist I.... 1 France IND -- 2,864 4,723 2,091
Paris Nord Dist II... 1 France IND -- 1,697 5,127 2,996
Japan Saitama
Distribution
Center............. 2 Japan IND -- 8,143 28,503 --
OTHER RETAIL MARKETS
Around Lenox......... 1 GA RET 9,092 3,462 13,848 4,874
Beacon Centre --
Headlands.......... 1 FL RET -- 2,523 7,669 865
Charles and Chase.... 1 MD RET -- 751 2,287 176
Mazzeo............... 1 MA RET 3,178 1,477 4,432 231
Palm Aire............ 1 FL RET -- 2,279 9,720 7,775
-- ---------- ---------- ---------- --------
Total.............. 952 $1,353,101 $1,391,038 $3,286,399 $614,642
== ========== ========== ========== ========
GROSS AMOUNT CARRIED AT 12/31/03
--------------------------------------- YEAR OF DEPRECIABLE
BUILDING & TOTAL ACCUMULATED CONSTRUCTION/ LIFE
PROPERTY LAND IMPROVEMENTS COSTS(1)(2) DEPRECIATION ACQUISITION (YEARS)
-------- ---------- ------------ ----------- ------------ ------------- -----------
(IN THOUSANDS, EXCEPT NUMBER OF BUILDINGS/CENTERS)
Willow Lake
Industrial Park.... 12,415 50,248 62,663 12,418 1998 5-40
Metric Center........ 10,968 34,678 45,646 5,634 1997 5-40
TechRidge Phase II... 7,261 13,714 20,975 944 2001 5-40
TechRidge Phase IA... 7,132 21,880 29,012 1,768 2000 5-40
Beltway
Distribution....... 4,800 20,692 25,492 3,631 1999 5-40
Dulles Airport --
Alliance........... 3,656 22,931 26,587 663 2000 5-40
Peninsula Business
Center III......... 992 3,334 4,326 479 1998 5-40
Mexico Guadalajara... 9,555 23,120 32,674 580 2002 5-40
Mexico Mesquite
Distribution
Center............. 4,192 12,100 16,292 64 2003 5-40
Frankfurt Logistic
Center............. -- 20,513 20,513 20 2003 5-40
Bourget Industrial... 10,367 25,075 35,442 100 2003 5-40
Paris Nord Dist I.... 3,572 6,105 9,677 80 2002 5-40
Paris Nord Dist II... 2,091 7,729 9,820 52 2002 5-40
Japan Saitama
Distribution
Center............. 8,143 28,503 36,646 59 2003 5-40
OTHER RETAIL MARKETS
Around Lenox......... 3,462 18,722 22,184 2,851 1998 5-40
Beacon Centre --
Headlands.......... 2,523 8,533 11,056 694 2000 5-40
Charles and Chase.... 751 2,463 3,213 289 1998 5-40
Mazzeo............... 1,477 4,663 6,140 673 1998 5-40
Palm Aire............ 2,452 17,321 19,773 2,125 1996 5-40
---------- ---------- ---------- --------
Total.............. $1,403,807 $3,888,272 $5,292,079 $474,452
========== ========== ========== ========
S-9
---------------
(1) Reconciliation of total cost to consolidated balance sheet caption as of
December 31, 2003:
Total per Schedule III(3)................................... $5,292,079
Construction in process(4).................................. 199,628
----------
Total investments in properties........................... $5,491,707
==========
(2) As of December 31, 2003, the aggregate cost for federal income tax purposes
of investments in real estate was $5,201,590.
(3) A summary of activity for real estate and accumulated depreciation for the
year ended December 31, 2003, is as follows:
Investments in Properties:
Balance at beginning of year.............................. $4,922,782
Acquisition of properties................................. 523,994
Improvements, including development properties............ 264,272
Transfer basis adjustment................................. 23,388
Asset impairment.......................................... (5,251)
Divestiture of properties................................. (339,605)
Adjustment for properties held for divestiture............ 102,127
----------
Balance at end of year.................................... $5,491,707
==========
Accumulated Depreciation:
Balance at beginning of year.............................. $ 362,540
Depreciation expense, including discontinued operations... 133,842
Properties divested....................................... (27,937)
Adjustment for properties held for divestiture............ 6,007
----------
Balance at end of year.................................... $ 474,452
==========
(4) Includes $112.2 million of fundings for development projects as of
December 31, 2003.
S-10
Exhibit Index
EXHIBIT
NUMBER DESCRIPTION
------- -----------
23.1 Consent of PricewaterhouseCoopers LLP.