GLP To Develop Its Largest Development Project in Japan
GLP will commence development of GLP Nagareyama, a large-scale logistics park in Greater Tokyo providing 319,000 sqm (3.4 million sq ft) of total gross floor area. Expected to be constructed in phases at a total investment cost of JPY59 billion (US$490 million), GLP Nagareyama will be GLP’s largest development project in the country.
- GLP Nagareyama in Greater Tokyo will be GLP’s largest development project
- GFA: 319,000 sqm (3.4 million sq ft), Total investment: US$490 million
- GLP continues to raise the bar in logistics property development with first-of-its-kind fully integrated supply chain logistics facility in Japan
- Customers have shown strong indicative demand in GLP Nagareyama
Tokyo, 30 October 2015 – GLP, the leading global provider of modern logistics facilities, will commence development of GLP Nagareyama, a large-scale logistics park in Greater Tokyo providing 319,000 square meters (“sqm”) (3.4 million square feet (“sq ft”)) of total gross floor area. Expected to be constructed in phases at a total investment cost of JPY59 billion (US$490 million1), GLP Nagareyama will be GLP’s largest development project in the country.
Yoshiyuki Chosa, President of GLP Japan, said, "GLP continues to raise the bar in logistics property development. We are excited to create a signature development that will change the landscape of the entire Japan logistics industry. As the market leader and pioneer, GLP continually seeks to advance the logistics and distribution infrastructure system in Japan while responding to our customers’ needs to optimize their operations. ”
GLP Nagareyama has been uniquely designed to optimize operational efficiency and drive value for customers. It will be a fully integrated supply chain facility – the first of its kind in Japan – where customers can conduct their production-related activities at the same location as the storage and distribution center which establishes seamless logistics operations. Other innovative features include varying ceiling heights and truck berth dimensions. GLP Nagareyama will be a low emission facility designed to run on solar energy and clean electricity. As part of its sustainability initiatives, GLP is expecting to obtain LEED Gold certification for GLP Nagareyama.
GLP Nagareyama is strategically situated in Chiba Prefecture, one of the most important distribution regions in Greater Tokyo. It is located approximately 25 km from Tokyo city center and within 2 km of the Hatsuishi Station of the Tobu Noda Line, which makes it an ideal location for sourcing a strong workforce.
Customers have shown strong indicative interest in GLP Nagareyama. GLP continues to see significant opportunity given attractive market fundamentals, its market-leading platform and experienced local team.
1 Unless stated, all exchange rates are reported as 1 USD = JPY120.05, the closing exchange rate as of 30 September 201
