April 8, 2010 (FinancialWire) — AMB Property Corp. (NYSE: AMB ), an owner, operator and developer of industrial real estate, said it has priced its public offering of 15.8 million shares of its common stock at a price of $27.50 per share.

The company said it has granted the underwriters an option to purchase up to an additional 2,370,000 shares to cover over-allotments, if any.

AMD added that it expects to receive net proceeds from the offering of around $416.4 million (or around $479.0 million if the underwriters exercise their over-allotment in full). The offering is scheduled to close on or about April 12, 2010.

California-based AMB Property is focused on major hub and gateway distribution markets in the Americas, Europe and Asia. As of December 31, 2009, AMB owned, or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total around 155.1 million square feet.

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