Form: S-11/A

Registration statement for securities to be issued by real estate companies

November 4, 1997

CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

Published on November 4, 1997



EXHIBIT 23.3

CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


As independent public accountants, we hereby consent to the use of our
reports, AMB Contributed Properties, dated October 17, 1997, AMB Institutional
Realty Advisors, dated October 17, 1997, 1997 Acquired Properties, dated October
17, 1997, and 1996 Acquired Properties, dated August 4, 1997, included in this
Amendment No. 2 to Registration Statement of AMB Property Corporation on Form
S-11, dated November 3, 1997.


/s/ ARTHUR ANDERSEN LLP


November 3, 1997