GLP Leases 50,000 sqm (538,000 sq ft) in Greater Tokyo

GLP Leases 50,000 sqm (538,000 sq ft) in Greater Tokyo

GLP has signed three new lease agreements totaling approximately 50,000 sqm (538,000 sq ft) in Greater Tokyo. The customers are using the facilities to support distribution demand driven by rising domestic consumption.

  • Two leading 3PLs have signed 39,000 sqm (409,000 sq ft)
  • A major food wholesaler has leased 11,000 sqm (118,000 sq ft)
  • Demand for modern logistics facilities in Japan driven by ongoing reconfiguration of supply chain and rising domestic consumption

 

Singapore, 30 March 2015 – Global Logistic Properties Limited (“GLP”), the leading global provider of modern logistics facilities, has signed three new lease agreements totaling approximately 50,000 square meters (“sqm”) (538,000 square feet (“sq ft”)) in Greater Tokyo.
The customers are using the facilities to support distribution demand driven by rising domestic consumption.

Two leading third-party logistics providers have signed leases at GLP Japan properties. Ricoh Logistics System Co., Ltd. (“Ricoh”) has leased 23,000 sqm (248,000 sq ft) at GLP Yokohama while Fuji Logitech, Inc. has leased 16,000 sqm (172,000 sq ft) at GLP Funabashi II. With these leases, both properties are 100% leased. Ricoh is a new customer relationship for GLP.

A major food wholesaler has also leased 11,000 sqm (118,000 sq ft) at GLP Zama, a new multi-tenant logistics facility in Greater Tokyo. The project is expected to be completed by June 2015 (1Q FY2016). This is a new customer relationship for GLP.

Yoshiyuki Chosa, President of GLP Japan said, “We are excited to announce these new leases. We see continued growth in demand for modern logistics facilities in Greater Tokyo due to the ongoing reconfiguration of supply chain and rising domestic consumption. GLP’s high-quality, well-located facilities are aimed at serving this demand effectively and helping our customers achieve the highest levels of service and efficiency.”
 

About Global Logistic Properties (www.glprop.com)

Global Logistic Properties Limited (“GLP”) is a leading global provider of modern logistics facilities. As of 31 December 2014, GLP’s US$19 billion property portfolio encompasses 29 million square meters (312 million square feet) of logistics facilities across China, Japan and Brazil. In February 2015, GLP established immediate scale in the United States with the acquisition of an US$8.1 billion portfolio.
 

GLP’s growth strategy is centered on being the best operator, creating value through developments and expanding its fund management platform. GLP’s customers include some of 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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