GLP Leases 23,000 sqm (248,000 sq ft) to Lefeng in Beijing and Chengdu

GLP Leases 23,000 sqm (248,000 sq ft) to Lefeng in Beijing and Chengdu

GLP has leased over 23,000 sqm (248,000 sq ft) to Lefeng in Beijing and Chengdu. The two leases are the first signed between GLP and Lefeng, a leading cosmetics e-commerce company in China.

  • First leases signed between GLP and Lefeng, a leading cosmetics e-commerce company in China
  • Lefeng will establish national and regional distribution centers at GLP Park Beijing ACL and GLP Park Chengdu Hi-Tech

 

Singapore, 2 July 2013 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has leased over 23,000 square metres (“sqm”) (248,000 square feet (“sq ft”)) to Lefeng in Beijing and Chengdu. The two leases are the first signed between GLP and Lefeng, a leading cosmetics e-commerce company in China.

Kent Yang, President of GLP China, said: “We are delighted to form this new relationship with Lefeng. With the rapid growth of domestic consumption and e-commerce in China, we are seeing strong demand for strategically-located logistics space from the retail industry. The attractiveness of our national network and the flexibility of our solutions were the key factors to win Lefeng as a valued customer, and we look forward to further growth with them in the future.”

Details of the two lease agreements are as follows:

  • 18,000 sqm (194,000 sq ft) at GLP Park Beijing ACL. With this lease, Lefeng will establish its national distribution center for the handling and distribution of apparel across China. GLP Park Beijing ACL is located adjacent to Beijing Airport cargo terminal and close to several expressways including Beijing Airport Highway No.1, No.2 and North Line, as well as Jingcheng Highway. It offers customers an excellent location for both airport-based logistics and domestic distribution throughout Beijing and Northern China.
  •  5,000 sqm (54,000 sq ft) at GLP Park Chengdu Hi-Tech. Lefeng will use this facility as a regional distribution center covering Central and Southwestern China. Situated in the Chengdu Development High-Tech Zone, GLP Park Chengdu Hi-Tech provides high-quality logistics facilities in a location that has convenient access to several expressways. 

 

Lefeng (http://www.lefeng.com), founded in 2008, is a leading Business-to-Customer website specializing in women’s beauty and skincare products. Research firm Euromonitor forecasts that China’s online cosmetics sales will reach RMB120 billion by 2015, increasing more than three-fold from RMB37 billion in 2012. Lefeng also sells women’s apparel and accessories.



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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