Global Logistic Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, with a market leading presence in China, Japan and Brazil, today announced that it has leased approximately 10,400 square metres (“sqm”) (112,000 square feet (“sq ft”)) to Tesco, one of the world’s largest supermarket chains, at GLP Park Jiashan, Zhejiang Province in Eastern China.
This marks the first direct leasing agreement between Tesco and GLP China. Tesco also operates in another GLP property in Guangzhou, Guangdong Province through a contract with a third party logistics provider.
Kent Yang, Managing Director of GLP China said: “We are very excited to be working with a company of Tesco’s global scale and reputation. This agreement illustrates the attractiveness of our best-in-class facilities to businesses looking to improve supply-chain efficiency. We look forward to working with Tesco as it continues to grow in China.”
GLP Park Jiashan is strategically located in Jiaxing city’s Jiashan Industrial Park in the Eastern coastal province of Zhejiang. It enjoys a direction connection to the 320 National Highway, connecting it to major cities such as Shanghai, Hangzhou and Suzhou. GLP Park Jiashan consists of three single-floor high standard logistic facilities with a total building area of 69,000 sqm (743,000 sq ft).