GLP clinches 218,000 sq m of new e-commerce related leases in China, US, Japan

The Global Logistic Properties (GLP) building in Tokyo.
The Global Logistic Properties (GLP) building in Tokyo. PHOTO: GLOBAL LOGISTIC PROPERTIES

SINGAPORE - Mainboard-listed Global Logistic Properties (GLP) said on Tuesday (Oct 18) that it had signed 218,000 square metres (2.3 million square feet) of new leases in China, US and Japan, all related to e-commerce demand.

They comprise:

• China - 153,000 sq m (1.6 million sq ft) of new leases with four third-party logistics providers serving a major e-commerce platform in China.

• US - 55,000 sq m (589,000 sq ft) of new and renewal leases with a global e-commerce company.

• Japan - 10,000 sq m (108,000 sq ft) new lease signed with a software company for online sales.

Said GLP chief executive officer Ming Z Mei: "Leasing demand from the e-commerce sector continues to drive demand for GLP's modern logistics facilities. Our comprehensive network and high quality specifications are well suited to accommodate the strong growing demand of e-commerce and we look forward to growing with our customers globally as they continue to expand."