GLP leases logistics facilities to six customers in China

GLOBAL Logistic Properties (GLP) has signed new lease agreements on facilities totalling 146,000 square metres with six third-party logistics providers in China.

Five of the new leases were signed with repeat customers, including Best Logistics, Deppon Logistics, and Goodaymart - three of GLP's top 10 largest customers by leased area in China.

GLP said on Tuesday that all of the customers cater to domestic consumption across a variety of industries including e-commerce, home appliances, fast-moving consumer goods and car parts.

Said Kent Yang, president of GLP China: "Repeat customers continue to drive demand for our modern logistics facilities. As domestic consumption continues to grow, we are seeing increasing demand for GLP's modern logistics facilities. Our unrivaled network enables our customers to rapidly scale up distribution capabilities in premium locations. We look forward to supporting our customers as they continue to expand across China."

As of March 31, 2015, GLP's US$28 billion property portfolio encompasses 41 million sq m of logistics facilities across China, Japan, Brazil, and the United States.