GLP Leaess 10,400 sqm to Tesco in Eastern China
GLP has leased approximately 10,400 sqm (112,000 sq ft) to Tesco, one of the world’s largest supermarket chains, at GLP Park Jiashan, Zhejiang Province in Eastern China. This marks the first direct leasing agreement between Tesco and GLP China.
Singapore, 2 January 2013 – Global Logistic Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, with a market leading presence in China, Japan and Brazil, today announced that it has leased approximately 10,400 square metres (“sqm”) (112,000 square feet (“sq ft”)) to Tesco, one of the world’s largest supermarket chains, at GLP Park Jiashan, Zhejiang Province in Eastern China.
This marks the first direct leasing agreement between Tesco and GLP China. Tesco also operates in another GLP property in Guangzhou, Guangdong Province through a contract with a third party logistics provider.
Kent Yang, Managing Director of GLP China said: "We are very excited to be working with a company of Tesco’s global scale and reputation. This agreement illustrates the attractiveness of our best-in-class facilities to businesses looking to improve supply-chain efficiency. We look forward to working with Tesco as it continues to grow in China."
GLP Park Jiashan is strategically located in Jiaxing city’s Jiashan Industrial Park in the Eastern coastal province of Zhejiang. It enjoys a direction connection to the 320 National Highway, connecting it to major cities such as Shanghai, Hangzhou and Suzhou. GLP Park Jiashan consists of three single-floor high standard logistic facilities with a total building area of 69,000 sqm (743,000 sq ft).
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, Japan and Brazil. It owns, manages and leases out 505 completed properties in 205 logistics parks spread across 60 cities in China, Japan and Brazil, 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 Sale and Leaseback, GLP is dedicated to improving supply chain efficiency to meet 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). (As of Nov. 14, 2012)
Issued by: Global Logistic Properties Limited
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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