GLP’s modern logistics facilities in high demand
Mar 09, 2017: GLP, the leading global provider of modern logistics facilities, has signed 69,000 square meters (sqm) of new leases in China and Japan over the past three months.
The customers are using the facilities to service growing demand from online and offline retail distribution channels.
One of the lease agreements involves 42,000 sqm to three leading retailers in China. With these leases, GLP establishes new customer relationships with Aeon and Metro.
Another lease agreement involves 27,000 sqm to Maruni Business Logistics, a leading third-party logistics provider in Japan, to support growing demand from apparel companies. With this lease, GLP Neyagawa is fully pre-leased.The JPY5 billion ($44 million1) development project is expected to be completed in 1Q FY19 (April – June 2018).
Ming Z Mei, chief executive officer of GLP, said, “These leases reinforce our view that global consumption will continue to drive demand for GLP”s logistics facilities. In Japan, we expect absorption to remain strong and we will continue to focus on the core markets of Tokyo and Osaka. In China, consumers continue moving toward organised retail channels and we will continue to provide well-located logistics facilities and value-added solutions to support these growth trends.”