GLP leases more than 8.5 million sqm (92 million sq ft) globally in 1H 2018
18th July 2018
- GLP is creating a smart logistics ecosystem around its vast infrastructure network amid strong customer demand for tech-led solutions
- A GLP warehouse serves as a connecting point for customers to leverage technology and data to enhance operational efficiency
18 July 2018 – GLP has signed more than 8.5 million square meters (“sqm”) (92 million square feet (“sq ft”) of global lease agreements in the first half of 2018 as it continued driving customer value through a strong global portfolio of premium locations and innovative use of technology. The space leased is equivalent to approximately 1,100 Empire State Buildings.
Steve Schutte, COO of GLP, said: “Innovation and technology are increasingly critical components of the evolving logistics landscape. These leases highlight our continued focus on creating a smart logistics ecosystem built around our vast infrastructure network. A GLP warehouse serves as a connecting point for customers to access the latest advancements in automation, robotics, data analytics and other adjacent growth sectors, to ensure the highest possible level of operational efficiency.”
The following details recent GLP leasing highlights.
- Japan – GLP is furthering its partnership with Rakuten, one of Japan’s largest e-commerce companies, with the signing of lease agreements totaling 155,000 sqm (1.7 million sq ft). Rakuten plans to establish its Tokyo and Osaka fulfillment hubs at GLP Nagareyama II and GLP Hirakata III, respectively. Both these developments are next-generation, LEED Gold certified modern logistics facilities that will enable Rakuten to optimize supply chain efficiency.
- Brazil – Established a new customer relationship with Drogarias Pacheco, one of the largest pharmaceutical store chain operators in Brazil, with the signing of a 28,000 sqm (301,000 sq ft) lease in Rio de Janeiro. GLP also significantly expanded its partnership with Mercado Livre, a leading e-commerce company in Brazil which tripled its space requirements to lease 51,000 sqm (549,000 sq ft) with GLP.
- China – Signed 5.6 million sqm (61 million sq ft) of leases with leading third-party logistics and e-commerce customers including BEST Inc., JD.com and SF Express. Demand in China continues to be driven by consumption upgrading especially from the food, auto parts and consumer goods sectors.
- Europe – Signed 351,000 sqm (3.8 million sq ft) of leases across the UK and Continental Europe. One of the largest leases was signed with B&Q, a leading home improvement retailer, in Swindon, UK. In Germany, Gazeley is working with one of the world’s largest e-commerce companies to deliver a 1.3 million sq ft (123,000 sqm) logistics and distribution warehouse in Westfalia.
- US – Signed 1.9 million sqm (20.8 million sq ft) of leases, of which 525,000 sqm (5.7 million sq ft) were new lease agreements. Demand continues to outpace supply, driven by growth in e-commerce and multi-channel retail operations. GLP’s lease ratio in the US remains high at 94%.
About GLP (www.glprop.com)
GLP is the leading global provider of modern logistics facilities and technology-led solutions, with over US$50 billion in assets under management across its real estate and private equity segments. The Company’s real estate fund platform is one of the largest in the world, spanning 62 million square meters (667 million square feet) globally.
For further information, please contact:
Ambika Goel, CFA
SVP- Capital Markets
Tel: +65 6643 6372