3PL & E-COMMERCE DRIVE DEMAND FOR GLP'S MODERN LOGISTICS FACILITIES
Shanghai/Chicago/Tokyo/São Paulo, 6 April 2017 - GLP, the leading global provider of modern logistics facilities, has signed 264,000 square meters ("sqm") (2.8 million square feet ("sq ft")) of new leases globally over the past 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:
• 206,000 sqm (2.2 million sq ft) to three 3PL customers in China including Best Logistics, one of GLP's largest customers in China by leased area
• 22,000 sqm (237,000 sq ft) to two new 3PL customers in the US
• 19,000 sqm (205,000 sq ft) to two existing 3PL customers in Japan
• 17,000 sqm (183,000 sq ft) 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."
About GLP (www.glprop.com)
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.
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).
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