GLP Leases 35,000 sqm (377,000 sq ft) in Greater Tokyo and Osaka
GLP has signed three new lease agreements totaling 35,000 sqm (377,000 sq ft) in Greater Tokyo and Osaka. Customers are consolidating their operations from multiple existing warehouses and using the facilities to support domestic distribution.
- GLP extends partnership with Senko, a leading 3PL provider
- Two other new customer relationships established
- Domestic consumption and consolidation trend continue to drive leasing demand in Japan
Tokyo, 14 January 2016 – GLP, the leading global provider of modern logistics facilities, has signed three new lease agreements totaling 35,000 square meters (“sqm”) (377,000 square feet (“sq ft”)) in Greater Tokyo and Osaka. Customers are consolidating their operations from multiple existing warehouses and using the facilities to support domestic distribution.
With these leases, GLP is extending its collaboration with Senko, a leading 3PL provider and one of GLP’s top customers by leased area in Japan. Two new customer relationships have also been established.
The following details the new lease agreements:
· An information solutions firm has leased 17,000 sqm (183,000 sq ft) at GLP Tokyo II
· Senko has leased 12,000 sqm (129,000 sq ft) at GLP Kadoma, Greater Osaka
· A wholesale general goods company has leased 6,000 sqm (65,000 sq ft) at GLP Zama, Greater Tokyo
Yoshiyuki Chosa, President of GLP Japan, said, "We are delighted to sign these new lease agreements. We continue to see demand for our modern logistics facilities as customers seek to consolidate their logistics hubs into a single, well-located facility to achieve greater efficiency and lower operational costs. We look forward to supporting our customers with our high-quality logistics facilities as they continue to grow in Japan.”
About GLP (www.glprop.com)
GLP is the leading global provider of modern logistics facilities. The Company develops, owns and manages a 48 million square meters1(521 million square feet) portfolio of logistics facilities across China, Japan, Brazil and USA 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. The Company’s total portfolio assets are valued at US$33 billion1.
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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1 Pro-forma figures based on GLP’s reported financials as of 30 September 2015
