GLP inks Japan leasing deals

Singapore

GLOBAL Logistic Properties (GLP) has signed four lease agreements totalling 70,000 square metres (754,000 square feet) with industry-leading retailers and a third-party logistics (3PL) provider in Greater Tokyo. The customers are using the facilities to support domestic distribution needs for retail stores and e-commerce.

GLP said on Wednesday that two of the leases are with GLP's existing long-term customers. They are 3PL provider Senko and international clothing retailer H&M Hennes & Mauritz Japan. The new customers were not named, but GLP said one is a "leading entertainment company" while the other is a "major international retailer". GLP shares closed unchanged at S$2.42 on Wednesday.