
<PAGE>   1
                                                                    EXHIBIT 23.1


                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


As independent public accountants, we hereby consent to the incorporation by
reference in this registration statement of our reports dated as follows:

<TABLE>
<S>                                                                                     <C>    
-    AMB Property Corporation and subsidiaries                                          February 2, 1999
-    AMB Contributed Properties                                                         March 27, 1998
-    Crysen Corridor Warehouse                                                          February 24, 1998
-    Boston Industrial Portfolio                                                        March 27,1998
-    The Jamesburg Property                                                             March 27, 1998
-    Orlando Central Park                                                               March 27, 1998
-    Totem Lake Malls                                                                   March 27, 1998
-    Dallas Warehouse Portfolio (Garland Industrial Portfolio)                          April 21, 1998
-    Twin Cities Office/Showroom Portfolio (Minnetonka Industrial Portfolio)            May 1, 1998
-    Willow Park Portfolio                                                              June 8, 1998
-    Amberjack Portfolio                                                                July 9, 1998
-    Willow Lake Portfolio                                                              July 21, 1998
-    National Distribution Portfolio                                                    July 31, 1998
-    Mawah Portfolio                                                                    July 31, 1998
-    Cabot Industrial Portfolio                                                         October 29, 1997
-    Cabot Business Park                                                                October 29, 1997
-    Manhattan Village Shopping Center                                                  October 17, 1997
-    Weslayan Plaza                                                                     October 17, 1997
-    Silicon Valley R&D Portfolio                                                       October 17, 1997
</TABLE>

and to all references to our Firm included in this registration statement.



 
San Francisco, California                  /s/ ARTHUR ANDERSEN LLP
April 5, 1999

