GLP Leases 43,000 sqm (463,000 sq ft) in China to Three Global Industry Leaders

GLP Leases 43,000 sqm (463,000 sq ft) in China to Three Global Industry Leaders

GLP has signed three new lease agreements totaling 43,000 sqm (463,000 sq ft) with three global industry leading companies, across China.

  • 16,000 sqm (172,000 sq ft) leased to Sankyu Logistics, an international third-party logistics service provider
  • 15,000 sqm (161,000 sq ft) leased to LightInTheBox.com, a global e-commerce company
  • 12,000 sqm (129,000 sq ft) leased to Watsons, one of the world’s largest health and beauty retail chains

 

Singapore, 27 January 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed three new lease agreements totaling 43,000 square meters (“sqm”) (463,000 square feet (“sq ft”)) with three global industry leading companies, across China.
 

Kent Yang, President of GLP China, said: "China’s retail and logistics industries are benefiting considerably from the country’s growing domestic consumption. We are delighted to be supporting three such excellent companies improve efficiency to better serve their customers. We look forward to extending these partnerships in the future. ” 
 

The following details the new lease agreements:

  • 16,000 sqm (172,000 sq ft) to Sankyu Logistics, an international third-party logistics service provider, at two parks in Tianjin, Northern China: 11,000 sqm (118,000 sq ft) at GLP Park TEDA and 5,000 sqm (54,000 sq ft) at GLP Park Xiqing. Sankyu will utilize the facilities to expand service for its customers in the automotive, electronics and consumer products industries. With the newly signed leases, Sankyu now leases a total of 92,000 sqm (990,000 sq ft) across three cities across China: Tianjin, Suzhou and Greater Guangzhou-Foshan, and becomes a GLP top 10 customer.
  • 15,000 sqm (161,000 sq ft) to LightInTheBox.com, a global online retail company, at GLP Park Suzhou in Eastern China. Suzhou is one of the China government’s pilot cities to encourage cross-border e-commerce. Suzhou Customs has set up a service center at GLP Park Suzhou to facilitate such overseas distribution. The lease marks the first cooperation between GLP and LightInTheBox.com, which was listed on the New York Stock Exchange on 6 June 2013 (NYSE:LITB).
  • 12,000 sqm (129,000 sq ft) to Watsons, one of the world’s largest health and beauty retail chains, at GLP Park Jiangxia in Wuhan, Midwestern China. The company will use the facility to serve its stores in Wuhan and the surrounding area. Watsons now leases 45,000 sqm (485,000 sq ft) with GLP in four cities across China: Wuhan, Beijing, Shenyang and Zhengzhou.



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 22.4 million square meters (241 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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