GLP Signs 62,000 sqm (667,000 sq ft) BTS Agreement with Logitem in Greater Tokyo
GLP has signed a new build-to-suit agreement with Logitem, a major 3PL provider in Japan. Logitem is an existing GLP customer expanding its footprint in Greater Tokyo to cater to rising domestic consumption.
- GLP commencing the development of GLP Yoshimi, a 62,000 sqm (667,000 sq ft) facility in Greater Tokyo in 2Q FY 2015
- Facility is 100% pre-leased to Logitem, an existing 3PL customer doubling its space requirement in Greater Tokyo within six months
Singapore, 17 June 2014 - Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed a new build-to-suit (“BTS”) agreement with Japan Logistic Systems Corp. (“Logitem”), a major third-party logistics (“3PL”) provider in Japan. Logitem is an existing GLP customer expanding its footprint in Greater Tokyo to cater to rising domestic consumption.
GLP Yoshimi is located within a 50km radius from central Tokyo. The four-story facility will commence development in 2Q FY2015. Previously, Logitem signed an agreement to fully lease GLP Ayase, a 69,000 sqm (743,000 sq ft) logistics facility in Greater Tokyo. With these transactions, GLP Ayase and GLP Yoshimi are 100% pre-leased, ahead of their completions.
Yoshiyuki Chosa, President of GLP Japan, said, “We are excited to expand our relationship with Logitem. Demand for modern, well-located facilities in the main markets of Tokyo and Osaka remains strong as companies look to optimize their distribution networks. We will continue to seek strategic sites to develop the right solutions for our customers across Japan.”
Hirotake Nakanishi, Representative Director and President of Logitem, said, “The strategic location of GLP’s facilities makes it ideal for the establishment of efficient logistics operations. Furthermore, GLP’s flexible network and high quality specifications are well suited to accommodate our growth, enabling us to better serve our customers. We look forward to leveraging GLP’s strong network to help us expand our business across Japan.”
GLP Yoshimi is situated in the eastern region of Saitama Prefecture, with proximity to multiple transportation access points including Ken-o Expressway, Kan-etsu Expressway and Route 254. This allows for efficient logistics operations and wide delivery coverage across Greater Tokyo and surrounding cities. The project is the 11th development under GLP Japan Development Venture, a 50/50 joint venture between GLP and the Canada Pension Plan Investment Board which is 82% invested or allocated.
Logitem, established in 1944, is a major logistics company in Japan listed on JASDAQ, offering various 3PL services such as cargo vehicle transport, logistics system consulting, customs and port transport and distribution for industrial and consumer products. With this lease, Logitem becomes one of GLP Japan’s 10 largest customers in Japan by leased area.
Rendering of GLP Yoshimi
GLP Yoshimi - Wide Area Map
GLP Yoshimi - Neighboring Area Map
Appendix
Name of Facility: GLP Yoshimi
Location: Yoshimi-machi, Saitama prefecture, Greater Tokyo
Total site area: 34,000 sqm (226,000 sq ft) Floor area: 62,000 sqm (667,000 sq ft) Leasable area: 61,000 sqm (656,000 sq ft)
Commencement of construction: September 2014 (planned) Completion of construction: August 2015 (planned)
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 25 million square meters (272 million square feet) is strategically located across 63 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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