GLP Signs 126,000 sqm (1.4 Million sq ft) of Leases in China

GLP Signs 126,000 sqm (1.4 Million sq ft) of Leases in China

GLP announced new lease agreements totaling 126,000 sqm (1.4 million sq ft) in China. The leases were signed with Best Logistics and SF Express, two leading 3PL companies who are also among GLP’s largest customers by leased area in China.

  • Best Logistics and SF Express expand partnership with GLP
  • Expansion demand driven by e-commerce
  • Multi-location customers leverage GLP’s unrivalled network to strengthen their distribution capability across China
     

Singapore, 7 September 2015 – GLP, the leading global provider of modern logistics facilities, announced new lease agreements totaling 126,000 square meters (“sqm”) (1.4 million square feet (“sq ft”)) in China. The leases were signed with SF Express and Best Logistics, two leading third-party logistics (“3PL”) companies who are also among GLP’s largest customers by leased area in China. The customers are expanding with GLP in five cities across China to cater to increasing demand for express delivery services driven by e-commerce.
 

Kent Yang, President of GLP China, said: “We are excited to deepen our collaboration with SF Express and Best Logistics. Domestic consumption and e-commerce sales continue to drive demand for GLP’s modern facilities in China. The strong leasing demand from repeat customers highlights the value creation and quality that GLP provides. We look forward to supporting our customers as they continue to grow in China.”

About GLP (www.glprop.com)

GLP is the leading global provider of modern logistics facilities. Its 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.

In July 2015, GLP entered into a definitive agreement to acquire a US$4.55 billion US logistics portfolio from Industrial Income Trust, with the intention of injecting the portfolio into its fund management platform. Upon closing of the proposed acquisition of IIT, GLP’s U.S. footprint would expand to 173 million square feet (16.1 million square meters). Subsequent to this transaction, GLP’s global portfolio would encompass more than 500 million square feet (47 million square meters) and approximately US$33 billion of assets under management worldwide. 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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