GLP has fully leased out new logistics property in Tokyo

SINGAPORE - Global Logistic Properties has signed a new lease agreement for 6,500 square metres (sqm) in Greater Tokyo with Senko Co, a major third party logistics provider and one of GLP Japan's largest customers.

With this newly signed agreement, the mainboard-listed company's property, GLP Atsugi, is fully leased out.

The customer will use the facility to cater to rising domestic consumption demand in Kanagawa sub-market, a major distribution centre for the Greater Tokyo region.

GLP Japan president Yoshiyuki Chosa said: "We are focused and committed to providing our customers with the best possible solutions with our facilities and are excited to strengthen our relationship with Senko through this lease.

"With our strong logistics network and scale, GLP is well positioned to support the growing needs of our customers."

Senko is a major third-party logistics service provider in Japan, offering comprehensive logistics services for a wide range of customers across industry sectors including apparel, healthcare, nursing care, housing and chemicals.

It leases 98,000 sqm of space with GLP in Japan.

GLP Atsugi is a newly completed 100,000 sqm multi-tenant logistics facility with excellent access to the Tokyo Metropolitan area.

It is located within one kilometres of the Sagamihara interchange of the Ken-O Expressway and is a development under GLP Japan Development Venture, an equal joint venture between GLP and the Canada Pension Plan Investment Board.