GLP Pre-Leases 43,000 sqm (463,000 sq ft) to Best Logistics in China
GLP has pre-leased approximately 43,000 sqm (463,000 sq ft) in Suzhou and Wuhan to Best Logistics, one of China’s leading providers of third-party logistics with a focus on Business-to-Consumer distribution and last-mile deliveries.
Singapore, 8 April 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, today announced that it has pre-leased approximately 43,000 square metres (“sqm”) (463,000 square feet (“sq ft”)) in Suzhou and Wuhan to Best Logistics, one of China’s leading providers of third-party logistics with a focus on Business-to-Consumer (“B2C”) distribution and last-mile deliveries. Following the signing of these two long-term lease agreements, Best Logistics now lease approximately 51,000 sqm (549,000 sq ft) across four locations with GLP in China.
Kent Yang, President of GLP China, said: “With the rapid growth of e-commerce in China, particularly the B2C segment, we are seeing increasing demand for strategically-located logistics space built to a high specification. These long-term lease agreements demonstrate our customer’s confidence in their growth prospects in China, as well as their satisfaction with GLP’s offering. We are delighted to strengthen our partnership with Best Logistics in these two strategic locations and look forward to helping them improve the efficiency of their operations in China.”
The following details the recently signed new lease agreements.
- 23,000 sqm (248,000 sq ft) at GLP Park Suzhou Hi-Tech in Suzhou, Jiangsu Province. GLP Park Suzhou Hi-Tech is strategically situated in the Yangtze River Delta Economic Region with convenient transportation to several cities, including Shanghai, Wuxi, Kunshan, Jiangxing and Zhangjiagang. Seven buildings will be built in the park with a total gross floor area (“GFA”) of 104,000 sqm (1.1 million sq ft) upon completion by the end of September 2013.
- 19,800 sqm (213,000 sq ft) at GLP Park Huangpi in Wuhan, Hubei Province. Located in the Wuhan Airport Economic Zone, GLP Park Huangpi is about four km away from Wuhan Tianhe International Airport and 15 km away from downtown Wuhan, with immediate access to three inter-provincial expressways. Phase I of the park will consist of five buildings with a total GFA of 70,000 sqm (753,000 sq ft) upon completion in November 2013.
Johnny Chou, President and CEO of Best Logistics, said: “Our cooperation with GLP has been very successful since we started working together in 2009. GLP has lived up to its strong reputation as a reliable partner by consistently providing us with top quality facilities and service. We hope to strengthen our relationship with GLP in more locations across China in the future.”
Best Logistics caters to a wide range of industries that are benefiting from China’s growing domestic consumption, such as fast moving consumer goods, clothing, consumer electronics, home appliances and automotive parts. GLP’s cooperation with Best Logistics first started in 2009, and now extends to four cities: Beijing, Hangzhou, Suzhou and Wuhan.
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. It owns, manages and leases out 525 completed properties in 194 logistics parks spread across 62 cities and states in China, Japan and Brazil, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible solutions of Multi-tenant, Build-to-suit and Sales-and-leaseback, GLP is dedicated to improving the supply chain efficiency for strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on October 18, 2010 (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP)
Issued by: Global Logistic Properties Limited
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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