GLOBAL LOGISTIC PROPERTIES LTD For Immediate Release
- GLP announces 114,000 sqm (1.2 million sq ft) of leasing in Greater Tokyo with three new customer relationships established
- GLP Atsugi II and GLP Sayama-Hidaka I 100% leased ahead of completion
- Demand for modern logistics facilities in Japan driven by ongoing reconfiguration of supply chain and rising domestic consumption
Mr. Yoshiyuki Chosa, President of GLP Japan, said, 'We are excited to announce these new leases. Our development properties offer design flexibility tailored to meet customer requirements across diverse industries, which is becoming a key competitive advantage in today's market. Customer demand in Japan for modern logistics remains strong and we see significant opportunity given attractive fundamentals, our market-leading platform and strong local team.'
The following details the new lease agreements:
1
GLP Atsugi II
A leading retailer has leased 49,000 sqm (527,000 sq ft). This is the first direct leasing agreement between GLP and the customer. The customer previously utilized other GLP facilities through third party logistics ('3PL') providers and has now chosen to sign a direct leasing agreement with GLP to facilitate its business expansion.
UDL, a major 3PL service provider in Japan, has leased 25,000 sqm (269,000 sq ft). This is a new customer relationship for GLP. The customer is using the facility to support distribution demand driven by rising domestic consumption.
GLP Atsugi II is a 74,000 sqm (797,000 sq ft) modern logistics facility located in Kanagawa Prefecture, one of the most important distribution regions in Greater Tokyo. The 100% GLP owned development is currently under construction and expected to be completed in June 2016.
GLP Sayama-Hidaka I
A subsidiary of a leading global automotive corporation has leased the 40,000 sqm (431,000 sq ft) facility. This is a new customer relationship for GLP.
GLP Sayama-Hidaka I is a 40,000 sqm (431,000 sq ft) modern logistics facility located in Saitama Prefecture, Greater Tokyo. It is a development under GLP Japan Development Venture, a 50/50 joint venture between GLP and the Canada Pension Plan Investment Board, and expected to be completed in December 2015.
GLP's modern logistics facilities feature different ceiling heights and truck berth dimensions that cater towards the varying needs of storage- and distribution-focused logistics companies,
as well as solar panels, LED lighting and thermal insulation materials that optimize efficiency for customers.
GLP Atsugi II, Greater Tokyo, Japan Under Construction
GLP Sayama-Hidaka I, Greater Tokyo, Japan Under Construction
GLP is the leading global provider of modern logistics facilities. The Company develops, owns and manages a 42 million square meters (452 million square feet) portfolio of logistics facilities across China, Japan, Brazil and USA that cater to domestic consumption. GLP's 4,000 customers include some of the world's most dynamic manufacturers, retailers and third party logistics companies. Fund management is an important and growing part of GLP's business, providing significant capital to support sustainable long-term growth, while enhancing returns on GLP's invested capital. As of 30 June 2015, the Company's total assets under management amounted to US$29 billion.
The Group is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).
GLP Investor Relations & Media Contact: Ambika Goel, CFA
SVP- Capital Markets and Investor Relations Tel: +65 6643 6372
Email: agoel@glprop.com
This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries. Please refer to our unaudited financial statements for a complete report of our financial performance and position. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words 'expects,' 'believes,' 'anticipates,' 'plans,' 'may,' 'will,' 'should,' 'intends,' 'foresees,' 'estimates,' 'projects,' and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward- looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP's assumptions are correct.
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