GLP Leases 15,000 sqm (162,000 sq ft) in Changzhou
GLP has signed approximately 15,000 sqm (162,000 sq ft) of new leases with a third party logistics provider in Changzhou, Eastern China. With the new lease, the occupancy rate for GLP Park CND, GLP’s first development in Changzhou, has reached 97% within three months of its completion.
- GLP’s first development in Changzhou, Eastern China, is 97% leased within three months of completion.
Singapore, 6 March 2013 – Global Logistic Properties Limited (“GLP”), one of the world's leading providers of modern logistics facilities, with a market-leading position in China, Japan and Brazil, today announced that it has signed approximately 15,000 square metres (“sqm”) (162,000 square feet (“sq ft”)) of new leases with a third party logistics provider in Changzhou, Eastern China. With the new lease, the occupancy rate for GLP Park CND, GLP’s first development in Changzhou, has reached 97% within three months of its completion.
Kent Yang, President of GLP China, said: “The logistics market in Eastern China is expanding rapidly and we are excited to see such strong demand for this newly completed project in Changzhou, our first in the city. Strategically located in the heart of Yangtze River Delta, GLP Park CND is situated within Changzhou’s only high-tech industrial development zone and well-positioned to cater to both manufacturing and distribution demand in the region.”
GLP Park CND is a modern logistics park comprising 33,000 sqm (351,000 sq ft) of high quality, multi-functional warehouse facilities. Located in Changzhou National Hi-tech District (“CND”), the only development zone in China offering road, rail, water and air transportation links, GLP Park CND is an ideal platform for regional distribution within Yangtze River Delta as well as production-related logistics due to its proximity to many multinational manufacturers.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is one of the world’s leading providers of modern logistics facilities, with a market-leading position in China, Japan and Brazil. It owns, manages and leases out 525 completed properties in 194 logistics parks spread across 62 cities and states 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 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 (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP)
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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