GLP signs 264,000m2 of new leases globally over the last 3 months

Singapore’s GLP, a leading global provider of modern logistics facilities, has signed 264,000m2 of new leases globally over the last three months. The customers are mostly third-party logistics providers (3PLs) and includes one new e-commerce customer for GLP.
The following details the new lease agreements:
· 206,000m2 to three 3PL customers in China including Best Logistics, one of GLP’s largest customers in China by leased area;
· 22,000m2 to two new 3PL customers in the US;
· 19,000m2 to two existing 3PL customers in Japan; and
· 17,000m2 to a new e-commerce customer in Brazil.
The 3PLs are using GLP’s facilities to service end-user demand from the auto parts, food and consumer goods industries.
Mr Ming Z Mei, Chief Executive Officer of GLP, said: “Trends in e-commerce and domestic consumption continue to drive demand globally. We see many retailers and manufacturers continuing to outsource their delivery services to third-party express companies for better operational efficiency and cost optimization. GLP’s high-quality facilities and strategic locations enable its 3PL and e-commerce customers to deliver the highest levels of service and logistics efficiency. We look forward to supporting our customers as they continue to grow.”
GLP owns and manages a global portfolio of 54 million square meters, with dominant market positions in China, Japan, US and Brazil. Domestic consumption is a key driver of demand for GLP. The company is one of the world’s largest real estate fund managers, with assets under management of US$38 billion.