GLP Leases 19,000 sqm (205,000 sq ft) in Greater Tokyo

GLP Leases 19,000 sqm (205,000 sq ft) in Greater Tokyo

GLP has signed two new lease agreements totaling 19,000 sqm (205,000 sq ft) with two 3PL providers, across Greater Tokyo, reflecting strong demand from 3PL providers catering to domestic consumption. Both the leases were signed iwth existing customers of GLP Japan.

  • GLP Atsugi, newly completed in December 2013, is 92% leased
  • GLP Misato III, the first logistics facility in Japan to achieve LEED Platinum, is 100% leased
  • Strong demand from 3PL providers catering to domestic consumption

 

Singapore, 27 February 2014 – Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has signed two new lease agreements totaling 19,000 square meters (“sqm”) (205,000 square feet (“sq ft”)) with two third-party logistics (“3PL”) providers, across Greater Tokyo, reflecting strong demand from 3PL providers catering to domestic consumption. Both the leases were signed with existing customers of GLP Japan.
 

Yoshiyuki Chosa, President of GLP Japan said, “We see domestic consumption continuing to pick up momentum and demand for sustainable, state-of-the-art modern logistics facilities in Japan remains strong. These leases underscore the power of our network and the confidence our customers have in our facilities and service. We are delighted these customers have chosen to partner with us and look forward to supporting their continued growth in Japan.”
 

The following details the recently signed new lease agreements:

  • GLP Atsugi – 14,000 sqm (151,000 sq ft) leased to a global 3PL provider to serve as a distribution centre of a manufacturer in Western Tokyo. GLP Atsugi is a newly completed 100,000 sqm (1.1 million sq ft) multi-tenant logistics facility with excellent access to the Tokyo Metropolitan area. With this lease, the property is 92% leased within two months of completion.
  • GLP Misato III – 5,000 sqm (54,000 sq ft) leased to Fuji Logitech, Inc., a fast-growing 3PL provider in Japan. The customer is expanding its logistics network to meet increasing customer demand. GLP Misato III is the first logistics facility in Japan to attain the highest level LEED  Platinum accreditation by the U.S. Green Building Council. With this lease, GLP Misato III is 100% leased.

 

GLP Atsugi and GLP Misato III are developments under GLP Japan Development Venture, a 50/50 joint venture between GLP and the Canada Pension Plan Investment Board that was formed in August 2011. In addition to their strategic locations, the facilities’ strong environmental and business continuity features were important considerations for the customers.
 

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 91%, 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 23.4 million square meters (252 million square feet) is strategically located across 63 cities, forming an efficient logistics network serving more than 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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