Global Logistic Properties Leases 39,000 sqm in Japan to Major Consumer Goods Distributor
GLP has signed a new lease agreement of approximately 39,000 sqm (419,800 sq ft) to Arata Corporation, a major Japanese wholesale company, for a consumer goods distribution centre in GLP Settsu in Greater Osaka, Western Japan.
Singapore, 4 October 2012 – Global Logistics Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, with a market-leading presence in China and Japan, announces that it has signed a new lease agreement of approximately 39,000 square metres (“sqm”) (419,800 square feet (“sq ft”)) to Arata Corporation (“Arata”), a major Japanese wholesale company, for a consumer goods distribution centre in GLP Settsu in Greater Osaka, Western Japan.
This is the third lease agreement between GLP and Arata, which has existing leases at GLP Nara, also in Greater Osaka, and GLP Funabashi in Greater Tokyo. Arata's lease agreement was signed seamlessly with the expiration of the previous leaseholder’s contract. Occupancy at GLP Settsu will remain at 100% following the agreement announced today. Arata plans to distribute daily consumer goods to retail shops in western Japan from November 2012.
Masato Miki, President of GLP Japan, said: “This agreement with Arata illustrates how attractive GLP’s strategically located, modern logistics facilities are to large distribution companies in Japan. We were pleased to be able to sign with a new tenant at GLP Settsu after the previous occupant reached the end of their tenure, with no impact on the facility’s high occupancy.”
GLP Settsu is located between the major cities of Osaka and Kyoto, giving customers convenient distribution access to both markets. With a total Gross Floor Area of 43,173 sqm (464,700 sq ft), GLP Settsu comprises four versatile warehouses, enabling customers such as Arata to save considerable costs by operating from a single site according to a variety of needs. The facility is installed with a vertical conveyer and a new elevator control system to further maximise customers’ operational efficiency.
About GLP Settsu
Name of Facility：GLP Settsu
Location：2-1-62, Torikainaka, Settsu-City, Osaka
Total floor area (GFA): Approx. 43,173 sqm (464,700 sq ft)
Four warehouses and 3 annex buildings
Structure: Reinforced-concrete and steel construction (2-4 floors)
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is one of the world’s largest providers of modern logistics facilities, with a market-leading presence in China and Japan. It owns, manages and leases out 446 completed properties in 187 logistics parks spread across 36 major cities in China and Japan, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible solutions of Multi-tenant, Build-to-suit and Sales-and-leaseback, GLP is dedicated to improving the supply chain efficiency for strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on October 18, 2010 (Stock code: MC0.SI).
About GLP Japan (www.glprop.co.jp)
GLP Japan is the Japanese arm of Global Logistic Properties, one of the world’s largest providers of modern logistics facilities, which manages 84 facilities in 7 cities to cover the major distribution centres of Japan. With a total floor area of more than 3.6 million sqm, GLP Japan is an important infrastructure that supports the lives of people and the economic activities in the city, providing logistics facilities that are highly functional as they are sustainable.
Issued by: Global Logistic Properties Limited
Investor relations & Media Team
Email: investor.relations@glprop.com
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com
## END ##
DISCLAIMER:
This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP’s assumptions are correct.
