GLP Announces New Leases Totaling 180,000 sqm (1.9 Million sq ft) in Japan

GLP Announces New Leases Totaling 180,000 sqm (1.9 Million sq ft) in Japan

GLP has signed nine new lease agremeents totaling approximatley 180,000 sqm (1.9 million sq ft) in multiple locations across Japan. This is the highest level of leasing recorded by GLP Japan in a single month.

  • Highest amount of leases signed in a single month
  • Six new customer relationships established; strong demand from 3PL providers and wholesale distributors catering to domestic consumption
  • GLP Japan Development Venture projects well-leased ahead of schedule

 

Singapore, 22 January 2014 – Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has signed nine new lease agreements totaling approximately 180,000 square meters (“sqm”) (1.9 million square feet (“sq ft”)) in multiple locations across Japan. This is the highest level of leasing recorded by GLP Japan in a single month.

All of these new leases were signed by third-party logistics (“3PL”) providers or wholesale distributors to cater to domestic consumption. Six of the leases were signed with first-time GLP customers in Japan.
 

Yoshiyuki Chosa, President of GLP Japan, said: “These new lease agreements underscore the demand we are seeing in Japan for modern logistics infrastructure. GLP’s extensive national network of high-quality facilities enable our customers to significantly reduce supply chain costs and improve efficiency. We are delighted these customers have chosen to partner with GLP and we look forward to supporting their continued growth in Japan.”
 

The following details the new lease agreements:

  • 69,000 sqm (743,000 sq ft) at a Greater Tokyo property now 100% leased
  • 35,000 sqm (377,000 sq ft) at a Greater Osaka property now 100% leased
  • 35,000 sqm (377,000 sq ft) of leases at GLP Atsugi in Greater Tokyo to a major　wholesale distributor and a 3PL provider
  • 22,000 sqm (237,000 sq ft) of leases at GLP Misato III in Greater Tokyo to three 3PL companies including Panalpina World Transport (Japan) Ltd.
  • 15,000 sqm (161,000 sq ft) to Asahi Logistics Co. Ltd, at GLP Fukuoka now 100% leased
  • 4,000 sqm (43,000 sq ft) at GLP Shinsuna in Tokyo

 

Demand for modern logistics facilities remains strong in Japan. The lease ratio of the first four developments under GLP Japan Development Venture – GLP Soja, GLP Misato III, GLP Atsugi and GLP Ayase – has reached 82%, ahead of their projected lease up schedules.

About Global Logistic Properties (www.glprop.com)
Global Logistic Properties Limited (“GLP”) is the leading provider of modern logistics facilities in China, Japan and Brazil. Our property portfolio of 22.4 million square meters (241 million square feet) is strategically located across 62 cities, forming an efficient logistics network serving 700 customers. We are dedicated to improving supply chain infrastructure for the world’s most dynamic manufacturers, retailers and third party logistics companies. Domestic consumption is a key driver of demand for GLP.
 

The Group is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).


GLP Investor Relations & Media Contact:
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations   
Tel: +65 6643 6372
Email: agoel@glprop.com

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