GLP Leases 21,000 sqm in Japan to International Retailer H&M
GLP has signed a new lease agreement of approximately 21,000 sqm (226,000 sq ft) at GLP Kawasaki in Greater Tokyo to H&M. The facility will be H&M’s first distribution centre in Japan, enabling the company to deliver products nationwide while maximizing operational efficiency.
Singapore, 29 October 2012 – Global Logistic Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, with a market-leading presence in China and Japan, announces that it has signed a new lease agreement of approximately 21,000 square metres (“sqm”) (226,000 square feet (“sq ft”)) at GLP Kawasaki in Greater Tokyo to H&M Hennes & Mauritz AB (“H&M”). The facility will be H&M’s first distribution centre in Japan, enabling the company to deliver products nationwide while maximizing operational efficiency.
This is the first leasing agreement between GLP and H&M. H&M has utilised GLP Kawasaki, through a contract with a third party logistics provider and has now chosen to sign a larger, direct leasing agreement with GLP to facilitate its business expansion in Japan. The lease ratio at GLP Kawasaki has increased and is high at 99.6% following this agreement.
Masato Miki, President of GLP Japan, said: “We are pleased to sign this larger, direct lease agreement with H&M, which is a reflection of GLP’s commitment to providing our customers with modern, flexible solutions, delivered with the best possible service. We look forward to partnering with H&M as they continue to grow in Japan.”
GLP Kawasaki is a five-storey development with a gross floor area of 160,286 sqm (1,725,000 sq ft), built on a land site of 64,194 sqm (691,000 sq ft). Each floor is also equipped with double ramp ways to allow large vehicles to directly access individual floors. It has been built according to GLP’s earthquake resistant construction methods, with advanced features such as back-up power supply and a 24-hour disaster control centre, to ensure business continuity at all times.
GLP Kawasaki’s strategic location makes it an ideal hub for domestic distribution in Japan. It is located just 1.8-km away from the Daishi exit and 5.5-km from the Higashi-Ohgishima exit of the Metropolitan expressway which provides easy access to Inner Tokyo. It is also located 5-km from Tokyo International (Haneda) airport, 13-km from Tokyo’s Oi container terminal port, 5.5-km from port of Kawasaki and 13-km from port of Yokohama.
H&M opened its first Japanese store in Ginza, Tokyo in September 2008 and now has a total of 19 stores in the country, with more than 2,600 stores in 46 markets worldwide (as of 31 August 2012).
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 and Japan. It owns, manages and leases out 446 completed properties in 187 logistics parks spread across 36 major cities in China and Japan, 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 (Stock code: MC0.SI).
Issued by: Global Logistic Properties Limited
Investor relations & Media Team
Email: investor.relations@glprop.com
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com
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