GLP, the leading global provider of modern logistics facilities, leased 157,000 square feet (14,600 square meters) to CEVA Logistics US, Inc. CEVA is an existing third-party logistics customer with GLP and leased an entire building in Columbus, Ohio.
Located adjacent to the Rickenbacker Airport in the largely institutional Southeastern submarket of Columbus, the property provides excellent proximity to key distribution channels while establishing synergies with the customer's existing facilities.
Steve Bryan, Co-Chief Investment Officer of GLP US, said: "We are pleased to provide CEVA with this facility and expand our global relationship. The partnership with CEVA exemplifies how GLP's global footprint and strategic locations enable us to efficiently meet our customers' needs in ways that align with improving their operations."
James Krepp, Vice President of CEVA Procurement, said: "GLP's creative approach to the deal structure in Columbus was instrumental to the success of this transaction. We continue to value GLP's flexibility and sincerely appreciate our strengthening partnership".
Currently, GLP's US portfolio comprises 173 million square feet (16.1 million square meters) of state-of-the-art, in-fill logistics assets located in 37 key markets across the country.
About GLP (www.glprop.com)
GLP is the leading global provider of modern logistics facilities. The Company develops, owns and manages a 50 million square meters1 (538 million square feet) portfolio of logistics facilities across China, Japan, Brazil and USA that cater to domestic consumption. GLP's 4,000 customers include some of the world's most dynamic manufacturers, retailers and third party logistics companies. Fund management is an important and growing part of GLP's business, providing significant capital to support sustainable long-term growth, while enhancing returns on GLP's invested capital. GLP's total portfolio assets amounted to US$34 billion.
GLP is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX
stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).