GLP renews 3.6m sq ft of leases with US customer

GLP, the mainboard-listed logistics company said to be in talks on the possible sale of the firm, announced on Thursday that it has extended 3.6 million sq ft of leases with a customer in the US.

GLP has signed long-term lease extensions with a global appliance company at three US facilities in Columbus, Ohio; Atlanta, Georgia; and Orlando, Florida.

GLP said: "The Ohio property is in the largely institutional south-eastern submarket near Rickenbacker Airport, which provides excellent proximity to key distribution channels throughout the Midwest."

The Atlanta property has immediate access to Interstate 75, and is positioned to allow access to the coastal ports and end users throughout the south-east to maximise intermodal transportation networks.

"The Orlando property is located near the Florida Turnpike, and has flexibility to nearly double its current capacity to accommodate the customers' growth."

GLP said that its current portfolio in the US comprises 173 million sq ft of modern logistics facilities, and that it is also the largest provider of modern logistics facilities in China, Japan and Brazil.