GLP announces signing 2.8 mil sq ft of new leases globally

SINGAPORE (April 6): Global Logistic Properties (GLP), the provider of modern logistics facilities, says it has signed a total 2.8 million sq ft worth of new leases globally over the past three months, driven by mainly third-party logistics providers (3PLs) in addition to a new e-commerce customer.

GLP owns and manages a global portfolio of 581 million sq ft, and is one of the world’s largest real estate fund managers, with assets under management of US$38 billion ($53.2 billion).

In a Thursday announcement, the group details that the bulk of its new lease agreements, covering 2.2 million sq ft, were signed with a total of three 3PL customers in China including one of GLP’s largest customers in China, Best Logistics.

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