GLP Leases 110,000 sqm in GLP Park Jinqiao, Shanghai
Singapore, 11 August 2011 – Global Logistic Properties Limited (“GLP”), the market leader in modern logistics facilities in China and Japan, today announced that it has recently signed two new lease agreements in GLP Park Jinqiao, Shanghai, totalling approximately 110,000 square metres. With the recent agreements, GLP Park Jinqiao is now 94% occupied.
The two new leases entail:
• A five-year lease agreement for 100,000 square metres with Commercial Global, one of China’s leading e-commerce solution providers. Commercial Global specialises in providing outsourced fulfilment services to support online operations and management for consumer brands and online retailers such as Alibaba’s Taobao Mall and will use the logistics facility in GLP Park Jinqiao to service its online customer base in east China.
• A 10,000-square-metre lease agreement with a renowned global luxury brand. GLP Park Jinqiao will function as a distribution centre for perfume packaging materials which supplies the customer’s manufacturing site nearby.
“These strong leasing results demonstrate GLP’s capability of leveraging an excellent location by upgrading a light industry facility into a specialised distribution centre and delivering business objectives to shareholders,” said Zhou Bo, Senior Vice President, Head of Operation China. “We are well positioned to capture the opportunities emerging from industries driven by domestic consumption in China, such as the e-commerce and luxury sectors.”
GLP Park Jinqiao is located within Jinqiao Export Processing Zone in east Shanghai and adjacent to Chuansha Town, Zhangjiang New Town. GLP Park Jinqiao is in a mature industrial zone with access to the primary routes for supplying products to the region. GLP Park Jinqiao is a multi-tenant facility consisting of a total gross floor area of 154,912 square metres, of which 146,867 square metres are now leased.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is Asia’s largest provider of modern logistics facilities. It owns, manages and leases out a network of 330 completed properties. Our properties and land parcels are spread geographically across 27 major cities in China and Japan, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible Multi-tenant, Build-to-suit and Sale-and-leaseback solutions, GLP is dedicated to improving supply chain efficiency for the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on October 18, 2010. (Stock code: MC0.SI).
