GLP Pre-Leases Two Development Properties in Greater Tokyo

GLP Pre-Leases Two Development Properties in Greater Tokyo

GLP has leased 114,000 sqm (1.2 million sq ft) in Greater Tokyo. With these new leases, two development properties in Japan – GLP Atsugi II and GLP Sayama Hidaka I – are 100% leased ahead of their completion.

- GLP announces 114,000 sqm (1.2 million sq ft) of leasing in Greater Tokyo with three new customer relationships established

- GLP Atsugi II and GLP Sayama-Hidaka I 100% leased ahead of completion

- Demand for modern logistics facilities in Japan driven by ongoing reconfiguration of supply chain and rising domestic consumption

Tokyo, 13 October 2015 – GLP, the leading global provider of modern logistics facilities, has leased 114,000 square meters (“sqm”) (1.2 million square feet (“sq ft”)) in Greater Tokyo. With these new leases, two development properties in Japan – GLP Atsugi II and GLP Sayama-Hidaka I – are 100% leased ahead of their completion.

Mr. Yoshiyuki Chosa, President of GLP Japan, said, “We are excited to announce these new leases. Our development properties offer design flexibility tailored to meet customer requirements across diverse industries, which is becoming a key competitive advantage in today’s market. Customer demand in Japan for modern logistics remains strong and we see significant opportunity given attractive fundamentals, our market-leading platform and strong local team.”


The following details the new lease agreements:

GLP Atsugi II
 

  • A leading retailer has leased 49,000 sqm (527,000 sq ft). This is the first direct leasing agreement between GLP and the customer. The customer previously utilized other GLP facilities through third party logistics (“3PL”) providers and has now chosen to sign a direct leasing agreement with GLP to facilitate its business expansion.
  • UDL, a major 3PL service provider in Japan, has leased 25,000 sqm (269,000 sq ft). This is a new customer relationship for GLP. The customer is using the facility to support distribution demand driven by rising domestic consumption
  • GLP Atsugi II is a 74,000 sqm (797,000 sq ft) modern logistics facility located in Kanagawa Prefecture, one of the most important distribution regions in Greater Tokyo. The 100% GLP owned development is currently under construction and expected to be completed in June 2016.


GLP Sayama-Hidaka I

  • A subsidiary of a leading global automotive corporation has leased the 40,000 sqm (431,000 sq ft) facility. This is a new customer relationship for GLP.
  • GLP Sayama-Hidaka I is a 40,000 sqm (431,000 sq ft) modern logistics facility located in Saitama Prefecture, Greater Tokyo. It is a development under GLP Japan Development Venture, a 50/50 joint venture between GLP and the Canada Pension Plan Investment Board, and expected to be completed in December 2015.

GLP’s modern logistics facilities feature different ceiling heights and truck berth dimensions that cater towards the varying needs of storage- and distribution-focused logistics companies, as well as solar panels, LED lighting and thermal insulation materials that optimize efficiency for customers.

 

About GLP (www.glprop.com)

GLP is the leading global provider of modern logistics facilities. The Company develops, owns and manages a 42 million square meters (452 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. As of 30 June 2015, the Company’s total assets under management amounted to US$29 billion.

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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