GLP Leases 340,000 sq ft (32,000 sqm) in Northern New Jersey

GLP Leases 340,000 sq ft (32,000 sqm) in Northern New Jersey

GLP has leased 340,000 sq ft (32,000 sqm) in the US to a repeat customer. A leading global logistics firm has leased the entire facility located in Northern New Jersey.

  • Expansion of organized retail drives demand for modern logistics facilities
  • GLP leases 98,000 sqm (1.1 million sq ft) to five leading companies in China, including Cainiao and Best Logistics

     

Shanghai, 20 June 2016 – GLP, the leading global provider of modern logistics facilities, has signed new leases totaling 98,000 square meters (“sqm”) (1.1 million square feet (“sq ft”)) with five leading companies in China. The new leased space is mainly related to expansion demand from the organized retail sector, including e-commerce and chain stores.


The customers include Cainiao, a data and technology-based logistics platform focused on e-commerce and affiliated to the Alibaba Group, Best Logistics, a leading third-party logistics provider and GLP’s largest customer by leased area in China, as well as a fast growing fresh food provider serving over 10 million small and medium-sized restaurants across China. Three of the leases are new customer relationships for GLP.


Victor Mok, Co-President of GLP China, said: “The China retail landscape is changing. The growth of e-commerce and chain stores are driving demand for GLP’s modern logistics facilities. We continue to see solid demand from the food and pharmaceutical industries and look forward to supporting our customers as they grow their businesses in China.”

About GLP (www.glprop.com)

GLP is the leading global provider of modern logistics facilities. The Company develops, owns and manages a 52 million square meters (559 million square feet) portfolio of logistics facilities across China, Japan, US and Brazil that cater to domestic consumption. GLP’s 4,000 customers include some of the world’s most dynamic manufacturers, retailers and third party logistics companies. Fund management is an important and growing part of GLP’s business, providing significant capital to support sustainable long-term growth, while enhancing returns on GLP’s invested capital. As of 31 March 2016, GLP’s total owned and managed assets amounted to US$36 billion.


GLP 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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