Global Logistics Properties inks 23,000 sqm lease agreements in China

Demand booms for logistics facilities.

Global Logistic Properties Limited (GLP), has signed two new lease agreements totaling 23,000 square meters (248,000 square feet) with two leading third-party logistics (“3PL”) providers in China.

According to GLP, the customers are strengthening their distribution capabilities in Central and Northern China amid increasing demand from the consumer goods industry. The companies were not named, and no lease pricings were mentioned

“We are very pleased to welcome these new customers. Sustained retail sales growth continues to drive demand for our properties in China. Modern logistics facilities are a critical part of the supply chain as they can help companies reach their customers in the most efficient and cost-effective way. GLP’s unrivaled national network positions us well to capture the significant opportunities in the China logistics industry,” noted Kent Yang, President of GLP China.