Singapore-listed Global Logistic Properties (GLP) said on Tuesday it has leased about 1.1 million sq ft of space in Sao Paulo, Brazil, to the country's largest fashion retail company.
Riachuelo will occupy the space in logistics park GLP Guarulhos, GLP said in a press release.
GLP Guarulhos comprises 15 buildings to be built in phases, with a total leasable area of 435,000 sq m (4.7 million sq ft). The four completed buildings, which have been completely leased out, add up to 154,000 sqm of leasable area (1.7 million sq ft).
The development is located 24 km from downtown Sao Paulo, and 15 km from the Sao Paulo-Guarulhos International Airport. It also has private overpass access to the Dutra highway - Brazil's most important highway linking the two major markets of Sao Paulo and Rio de Janeiro.
Riachuelo is part of Guararapes Confecções S.A., the largest fashion group in Brazil with 212 stores nationwide, 5.3 million sq ft of sales area and 39,000 employees.