GLP signs three lease agreements in China totaling 39,000 sqm

Logistics facilities demand soaring in China.

Global Logistic Properties Limited (GLP), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed three new lease agreements totaling 39,000 square meters (sqm) or eqivalent to 420,000 square feet (sq ft) with three companies across China.

Kent Yang, President of GLP China, said: "Sustained growth in consumption and increased outsourcing is driving demand for modern logistics facilities across China. With our unrivalled network and best-in-class facilities and service, we are well-positioned to meet this demand. We are delighted to support our customers as they upgrade and expand their distribution capabilities.”

Here are the details on the 3 new lease agreements:

17,000 sqm (183,000 sq ft) to China Vanke (Vanke), at GLP Park Xi’an ETDZ, Xi’an, Midwestern China. Vanke, the largest residential real estate developer in China, will utilize the facilities for storage and distribution of household fixtures and appliances for its development projects in Xi’an, ensuring on-time construction delivery and product quality. Vanke is listed on the Shenzhen Stock Exchange with stock symbol 000002.SZ.

12,000 sqm (129,000 sq ft) to a leading hypermarket chain in China at GLP Park Wangting in Suzhou, Eastern China. The customer will use the facility for distribution to stores in Suzhou and the surrounding region.

10,000 sqm (108,000 sq ft) to ANE Logistics (ANE) at GLP Park Wangting in Suzhou, Eastern China. ANE is a leading third party logistics (3PL) company in China and will use the facilities to establish a regional distribution center mainly serving Suzhou and Wuxi, providing less-than-truckload transportation service to their customers. ANE is a first-time GLP customer