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GLP signs new lease agreements in China, Japan
LOGISTICS facilities provider Global Logistic Properties (GLP) has signed 69,000 sq m of new leases in China and Japan over the past three months, it announced on Thursday.
The customers are using the facilities to service growing demand from online and offline retail distribution channels, it said.
The new lease agreements are for:
- 42,000 sq m to three retailers in China. With these leases, GLP also establishes new customer relationships with Aeon and Metro.
- 27,000 sq m to Maruni Business Logistics, a third-party logistics provider in Japan, to support growing demand from apparel companies. With this lease, GLP Neyagawa is fully pre-leased. The five billion yen (S$61.98 million) development project is expected to be completed in the quarter ending June 2018.