Global Logistic Properties leases 1.1 million sq ft space to fashion retailer in Brazil

Warehouse developer Global Logistic Properties (GLP) said on Tuesday that it has leased out 1.1 million sq ft of space to a fashion retailer in Sao Paulo, Brazil.

The space is at GLP Guarulhos, a cluster of 15 buildings, belonging to a company in which GLP has a 40 per cent stake.

Of the 15 buildings, four of them have been completed to date.

Mr Jeffrey H Schwartz, co-founder and chairman of GLP's executive committee, said: "GLP Guarulhos is the best logistics park in Brazil in terms of building standards, location, infrastructure and space capacity."

It is 24 kilometres south of Sao Paulo, and 15 kilometres away from the Sao Paulo-Guarulhos International Airport.

GLP shares closed down three cents or 1.04 per cent to $2.86.

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