GLP To Commence Development of Modern Logistics Facility in Greater Osaka
GLP will commence development of GLP Kobe Nishi II, a 71,000 sqm (764,000 sq ft) modern logistics property in Greater Osaka. The total development cost is estimated to be JPY10.5 billion (US$100 million).
GLP today announced that it will sell its 50% share of GLP MFLP Ichikawa Shiohama to GLP JREIT for approximately JPY15.5 billion (US$151 million) or a 4.5% cap rate.