GLP inks three leasing deals in China

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According to a release, Global Logistic Properties Limited (“GLP”) announced that it has recently signed new leasing agreements totalling approximately 44,000 square metres (“sqm”), 474,000 square feet (“sq ft”) in Eastern China.

“We are excited to maintain the strong leasing momentum at our facilities in Eastern China,” said Kent Yang, Managing Director of GLP China. “These new leases, at three separate parks, demonstrate the continuing strong demand for GLP’s modern logistics facilities, as well as our unique ability to serve customers across China.”

The following details the recently signed new lease agreements.

19,500 sqm (210,000 sq ft) leased at GLP Park Jiaonan in Qingdao, Shandong 2 Province, to Haier Group (“Haier”), the world’s leading home appliances solutions provider. This follows a strategic partnership agreement signed in September 2012 between Haier and GLP to develop a state-of-the-art logistics network distributing home appliances for Haier, their suppliers and distributors nationally.

A total of 15,000 sqm (161,000 sq ft) leased to Dingtong Logistics Co. Ltd, a subsidiary of Itochu Corp, a leading global trading company, and Master Kong Food Co. Ltd., a market leader for instant noodles, tea and bottled water in China. One of the leases signed was a 11,000 sqm (118,000 sq ft) lease agreement at GLP Park HEDA in Hangzhou, Zhejiang Province while the other lease agreement was for 3,500 sqm (38,000 sq ft) at GLP Park Qingdao Airport (East) in Qingdao, Shandong Province.

9,500 sqm (102,000 sq ft) leased at GLP Park Laogang in Shanghai to Senlan Environmental Protection (Shanghai) Co. Ltd., a local waste management company, for the expansion of its electronic waste sorting and recycling facility in the region.