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GLP to invest up to $1.6 bil to develop logistics facilities in Tokyo

PC Lee Published on Tue, Dec 27, 2016 / 7:42 AM GMT+8

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SINGAPORE (Dec 27): GLP, the global provider of modern logistics facilities, has acquired a land parcel for long-term logistics facilities development in Greater Tokyo.

GLP Sagamihara will be developed in phases and ultimately provide over 7 million sf of total gross floor area across six buildings. GLP expects to start the first phase of construction in 2020 following a sale-and-leaseback arrangement with the seller.

The total investment cost of GLP Sagamihara is US$1.1 billion ($1.6 billion).

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