GLP Extends Cooperation with Goodbaby; Leases 44,000 sqm (474,000 sq ft) in China

GLP Extends Cooperation with Goodbaby; Leases 44,000 sqm (474,000 sq ft) in China

GLP has signed lease agreements totaling 44,000 sqm (474,000 sq ft) to Goodbaby, a leading global manufacturer and retailer of infant and children products. With these two new leases in Suzhou and Langfang, Goodbaby has increased its leased area with GLP to 51,000 sqm (549,000 sq ft).

  • Goodbaby, China’s leading provider of children’s products, is expanding its leased area with GLP 
  • GLP Park Qiandeng in Suzhou, Eastern China will serve as Goodbaby’s national distribution center; property is 90% leased upon completion
  • GLP Park Langfang in Northern China is pre-leased ahead of completion

 

Singapore, 23 July 2013 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed lease agreements totaling 44,000 square metres (“sqm”) (474,000 square feet (“sq ft”)) to Goodbaby, a leading global manufacturer and retailer of infants’ and children’s products. With these two new leases in Suzhou and Langfang, Goodbaby has increased its leased area with GLP to 51,000 sqm (549,000 sq ft).

Kent Yang, President of GLP China, said: “We are delighted to build on our strong relationship with Goodbaby. The strategic location of our facilities provides Goodbaby with excellent access to the major consumption centers of Shanghai and Beijing as well as surrounding regions. We look forward to further cooperation as they continue to expand across China.”

Mr. Song Zhenghuan, Chairman and President of Goodbaby, said of the new leases, “GLP’s network and scale provide us with convenient access to the market so we can meet growing demand from our customers. GLP’s facilities and service help us sustain our growth, and we value our partnership with them.”

The following details the recently signed new lease agreements.

  • Expanded from 7,000 sqm (75,000 sq ft) to 45,000 sqm (484,000 sq ft) by leasing 38,000 sqm (409,000 sq ft) at GLP Park Qiandeng in Suzhou, Eastern China. The facility serves as the customer’s national distribution center. GLP Park Qiandeng is within a 30-minute drive from Shanghai and Suzhou and enjoys direct access to the Shanghai-Changzhou Expressway, making it an ideal location for domestic consumption focused distribution. Following this new agreement, GLP Park Qiandeng is 90% leased upon completion.
  • 6,000 sqm (65,000 sq ft) pre-leased at GLP Park Langfang in Langfang, Northern China. Strategically located approximately 40-km and 60-km from Beijing and Tianjin – the two largest markets in Northern China – respectively, GLP Park Langfang is an ideal site for distribution throughout the region.

 

Goodbaby is a leading global manufacturer, distributor and retailer of infants’ and children’s products. It was founded in 1989 and is headquartered in China. Its children durables division was listed on the Hong Kong Stock Exchange in November 2010 (HKG:1086) and ranks as the largest supplier of strollers in the USA, Europe and China.

 


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 21 million square meters (226 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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