Form: 424B3

Prospectus filed pursuant to Rule 424(b)(3)

October 26, 2000

424B3: Prospectus filed pursuant to Rule 424(b)(3)

Published on October 26, 2000


PROSPECTUS DATED DECEMBER 17, 1998 PRICING SUPPLEMENT NO. 3
PROSPECTUS SUPPLEMENT DATED OCTOBER 23, 2000 TO
DATED AUGUST 15, 2000 REGISTRATION STATEMENT NO. 333-68283 AND
REGISTRATION STATEMENT NO. 333-68283-01
RULE 424(B)(3)

AMB PROPERTY, L.P.

MEDIUM-TERM NOTE
(FIXED RATE)

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PRINCIPAL AMOUNT: $50,000,000

PRICE TO PUBLIC: 100%

AGENT'S DISCOUNT OR COMMISSION: 0.625% ($312,500)

NET PROCEEDS TO US: 99.375% ($49,687,500)

INTEREST RATE: 8.00%

MATURITY DATE: November 1, 2010

ORIGINAL ISSUE DATE: October 26, 2000

TRADE DATE: October 23, 2000

EXCHANGE RATE AGENT:
[X] State Street Bank and Trust Company of California, N.A.

[ ] Other

INTEREST PAYMENT DATES: May 1 and November 1, commencing May 1, 2001

REGULAR RECORD DATES: April 15 and October 15, commencing April 15, 2001

SPECIFIED CURRENCY:

[X] United States Dollars

[ ] EURO

[ ] Composite Currency:

[ ] Other: Principal Financial Center:

AUTHORIZED DENOMINATION:

[X] $1,000 or integral multiples thereof

[ ] Other

REDEMPTION:

[X] The Note cannot be redeemed prior to maturity

[ ] The Note may be redeemed at the option of the Operating Partnership
prior to maturity Redemption Commencement Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction:

REPAYMENT:

[X] The Note cannot be repaid prior to maturity
[ ] The Note may be repaid prior to maturity at the option of the
Holder of the Note Optional Repayment Date(s):
Repayment Price:


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DISCOUNT NOTES: [ ] Yes [X] No
Issue Price:
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:

FORM: [X] Book-Entry [ ] Certificated

AGENT:
[X] Morgan Stanley Dean Witter
[ ] Banc of America Securities LLC
[ ] Banc One Capital Markets, Inc.
[ ] Chase Securities Inc.
[ ] Merrill Lynch & Co.
[ ] J.P. Morgan Securities Inc.
[ ] Salomon Smith Barney

AGENT'S CAPACITY: [ ] Agent [X] Principal

ADDENDUM ATTACHED: [ ] Yes [X] No

OTHER/ADDITIONAL PROVISIONS: The notes will initially be limited to $50,000,000
in aggregate principal amount. We may create and issue additional notes with
the same terms as the notes issued hereunder so that the additional notes
will be combined with this issuance of notes.



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