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China : GLP signs three lease agreements totaling 39000 sqm with three firms in CHINA.

A major provider of modern logistics facilities in China, Japan and Brazil, Global Logistic Properties Limited (GLP), has signed three new lease agreements totaling 39,000 square meters (sqm) or eqivalent to 420,000 square feet (sq ft) with three firms in China.

Kent Yang, President of GLP China, stated that, Sustained growth in consumption and increased outsourcing is driving demand for modern logistics facilities across China. With our unrivalled network and best-in-class facilities and service, we are well-positioned to meet this demand. We are delighted to support our customers as they upgrade and expand their distribution capabilities.

The new lease agreements includes : 17,000 sqm (183,000 sq ft) to China Vanke (Vanke), at GLP Park Xi an ETDZ, Xi an, Midwestern China. Vanke is the largest residential real estate developer in China and will use the facilities to store and distribute household fixtures and appliances for its development projects in Xi an, aiming at ensuring timely construction delivery and product quality.

12,000 sqm (129,000 sq ft) to a major Chinese hypermarket chain at GLP Park Wangting in Suzhou, Eastern China, which will be utilised for distribution to stores in Suzhou and nearby region.

10,000 sqm (108,000 sq ft) to ANE Logistics (ANE) at GLP Park Wangting in Suzhou, Eastern China. In China, ANE is a major third party logistics (3PL) firm. The facilities will be used to establish a regional distribution center to serve Suzhou and Wuxi, providing less-than-truckload transportation service to their customers.

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Publication:Mena Report
Geographic Code:9CHIN
Date:Mar 4, 2014
Words:263
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