GLP Leases 31,000 sqm (334,000 sq ft) to A Leading Food Manufacturer and Distributor in China

GLP Leases 31,000 sqm (334,000 sq ft) to A Leading Food Manufacturer and Distributor in China

GLP has signed a new lease totaling 31,000 sqm (334,000 sq ft) at GLP Park Suzhou with a leading food manufacturer and distributor. The customer is expanding its distribution capabilities to meet demand in Eastern China, which is being driven by the rapid increase in domestic consumption.

  • Third lease agreement between GLP and the customer
  • Strong domestic consumption in China continues to drive demand for GLP’s facilities

 

Singapore, 14 May 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, has signed a new lease totaling 31,000 square metres (“sqm”) (334,000 square feet (“sq ft”)) at GLP Park Suzhou with a leading food manufacturer and distributor.

The customer is expanding its distribution capabilities to meet demand in Eastern China, which is being driven by the rapid increase in domestic consumption. The lease marks the third cooperation between GLP and the customer, which now leases approximately 61,000 sqm (657,000 sq ft) with GLP.

Kent Yang, President of GLP China, said: “Growing domestic consumption is driving demand for modern logistics space in China, from a broad range of industries. This lease illustrates how our extensive network of strategically-located facilities enables our existing customers to expand across the country. We look forward to helping this customer as it continues to grow.”

GLP Park Suzhou is the first park that GLP developed in China. As of December 31 2012, the Park comprises 543,000 sqm (5.84 million sq ft) of completed warehouse facilities. Located in Suzhou Industrial Park, GLP Park Suzhou has convenient access to several expressways connecting major cities in the Yangtze River Delta, including Shanghai, Nanjing and Hangzhou. In addition, the airports and seaports of Shanghai Hongqiao International Airport, Pudong International Airport, Zhangjiagang riverport, Changshu riverport, Taicang riverport and Shanghai seaport form a convenient and highly efficient transportation network.

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. Our property portfolio of 20 million square meters (215 million square feet) is strategically located across 62 cities, forming an efficient logistics network serving almost 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, Company registration number: 200715832Z).


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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