GLP Pre-Leases 40% of Greater Tokyo Development to Rakuten

GLP Pre-Leases 40% of Greater Tokyo Development to Rakuten

  • Rakuten, a leading e-commerce company in Japan, will occupy approximately 42,000 sqm (451,920 sq ft) in Ichikawa, Greater Tokyo
  • Strong indicative demand from prospective tenants for Ichikawa Shioha development, which is now 40% pre-leased considerably ahead of schedule
     

Singapore/Tokyo, Japan, 6 November 2012 – Global Logistic Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, with a market-leading presence in China and Japan, announces that it has leased approximately 42,000 square metres (“sqm”) (451,920 square feet (“sq ft”)) at its Ichikawa Shiohama development in Greater Tokyo to Rakuten, Inc. (“Rakuten”), one of Japan’s leading e-commerce companies. With this new lease agreement, Ichikawa Shiohama is 40% pre-leased considerably ahead of schedule.

 

The Ichikawa Shiohama project, a 50:50 joint venture between GLP Japan and Mitsui Fudosan Co., Ltd., is a five-storey, large-scale multi-tenant logistics facility, with a net lettable area of 102,000 sqm (1,098,000 sq ft).

 

Rakuten intends to use the facility to strengthen its distribution network in the region. The Ichikawa Shiohama facility marks the first lease agreement between GLP and Rakuten.

 

Mr. Ming Z. Mei, Chief Executive Officer of GLP said: “We are delighted to begin a new customer relationship with Rakuten, a leading, well-respected e-commerce brand in Japan. We have already successfully pre-leased 40% of Ichikawa Shiohama development before construction has begun, underlining not just the strong demand for modern logistics space in key locations across Japan but also our facility’s attractiveness as a distribution hub in the region.”

 

Ichikawa Shiohama development is a next-generation, environmentally-friendly logistics facility. The development will employ advanced features such as back-up power supply and a seismic isolation structure to ensure customers’ business continuity at all times. In addition, GLP is expecting to obtain to acquire an A-class certification by CASBEE*, acknowledging the property as an environmentally-friendly logistics facility.

 

Ichikawa is located in northwest Chiba, Japan, approximately 15-km from the city centre of Tokyo. Our project is strategically situated close to the Chidoricho Interchange Exit of the Metropolitan Expressway Wangan Line, providing convenient access to Haneda and Narita International Airports, and within walking distance to Ichikawa Shiohama station of JR Keiyo line, providing excellent access for employees. The planned expansion of the Tokyo Gaikan Expressway by 2015 is expected to further increase connectivity.

 

*Refers to Comprehensive Assessment System for Build Environment Efficiency, a widely used accreditation system in Japan used by construction companies and real-estate developers to assess and measure the level of “greenness” of buildings

 

Appendix- Overview of the Ichikawa Shiohama Project

  • Name of facility: Ichikawa Shiohama
  • Location: Shiohama, Ichikawa City, Chiba Prefecture (Greater Tokyo)
  • Total site area: Approx. 52,921 sqm (569,430 sq ft)
  • Total floor area: Approx. 121,000 sqm (1,301,900 sq ft, planned)
  • Net lettable area: Approx. 102,000 sqm (1,098,000 sq ft planned)
  • Commencement of construction: December 2012 (planned)
  • Completion of construction: December 2013 (planned)

 


About Global Logistic Properties (www.glprop.com)

Global Logistic Properties (GLP) is one of the world’s largest providers of modern logistics facilities, with a market-leading presence in China and Japan. It owns, manages and leases out 446 completed properties in 187 logistics parks spread across 36 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 Sales-and-leaseback solutions, GLP is dedicated to improving supply-chain efficiency for the strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Main board of Singapore Exchange Securities Trading Limited on October 18, 2010 (Stock code: MC0.SI).

 

About GLP Japan (www.glprop.co.jp)

GLP Japan is the Japanese arm of Global Logistic Properties, one of the world’s largest providers of modern logistics facilities. GLP Japan manages 84 facilities in 7 cities to cover the major distribution centres of Japan. With a total floor area of more than 3.6 million sqm (38,736,000 sq ft), GLP Japan is an important infrastructure that supports the lives of people and economic activities in the city, providing logistics facilities that are as highly functional as they are sustainable.

 

Issued by: Global Logistic Properties Limited

Investor relations & Media Team

Email: investor.relations@glprop.com

 

Ambika Goel, CFA

SVP- Capital Markets and Investor Relations

Tel: +65 6643 6372

Email: agoel@glprop.com

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