FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
BAIRD W BLAKE
   2. Issuer Name and Ticker or Trading Symbol
AMB PROPERTY CORP [AMB] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President
(Last)
(First)
(Middle)
C/O AMB PROPERTY CORPORATION,, PIER 1, BAY 1		 3. Date of Earliest Transaction (Month/Day/Year)
12/15/2005
(Street)

SAN FRANCISCO, CA 94111		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/15/2005   M   11,800 A $ 22.5625 284,174 D  
Common Stock 12/15/2005   S   11,800 D $ 50 272,374 D  
Common Stock 12/15/2005   M   200 A $ 22.5625 272,574 D  
Common Stock 12/15/2005   S   200 D $ 50.01 272,374 D  
Common Stock 12/15/2005   M   1,200 A $ 22.5625 273,574 D  
Common Stock 12/15/2005   S   1,200 D $ 50.03 272,374 D  
Common Stock 12/15/2005   M   3,400 A $ 22.5625 275,774 D  
Common Stock 12/15/2005   S(1)   3,400 D $ 50.05 272,374 (2) D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 22.5625 12/15/2005   M     11,800   (3) 01/20/2009 Common 11,800 (4) 529,687 I Family Trust
Non-Qualified Stock Option (right to buy) $ 22.5625 12/15/2005   M     200   (3) 01/20/2009 Common 200 (4) 529,487 I Family Trust
Non-Qualified Stock Option (right to buy) $ 22.5625 12/15/2005   M     1,200   (3) 01/20/2009 Common 1,200 (4) 528,287 I Family Trust
Non-Qualified Stock Option (right to buy) $ 22.5625 12/15/2005   M     3,400   (3) 01/20/2009 Common 3,400 (4) 524,887 I Family Trust

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BAIRD W BLAKE
C/O AMB PROPERTY CORPORATION,
PIER 1, BAY 1
SAN FRANCISCO, CA 94111		   X     President  

Signatures

 /s/ Tamra Browne pursuant to a power of attorney dated 1/15/2003   12/19/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These sales are being made pursuant to a previously adopted plan intended to comply with Rule 10b5-1(c) of the Securities Exchange Act of 1934. This 10b5-1 plan was adopted on July 18, 2005.
(2) Of the 272,374 securities beneficially owned, 197,526 shares are directly (D) held, and 74,848 are indirectly (I) held through a family trust.
(3) One-fourth of the shares subject to the option vest and become exercisable annually on the anniversary of the grant date beginning January 20, 1999. The shares became fully vested on January 20, 2003.
(4) Not applicable.

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