Global Logistic Properties Limited (“GLP”), one of the world’s leading providers of modern logistics facilities, with a market-leading position in China, Japan and Brazil, today announced that it has signed approximately 19,000 square metres (“sqm”) (205,000 square feet (“sq ft”)) of new leases with two different third party logistics (“3PL”) providers in Xi’an, Northwestern China. GLP Park Xi’an Hi-Tech, GLP’s first development in Xi’an, is fully leased upon completion.
Kent Yang, President of GLP China, said: “We are fully leased in Xi’an, an important market for logistics in Northwestern China. These two leases at GLP Park Xi’an Hi-Tech reflect the attractiveness of the park’s strategic location which enables our customers to significantly reduce supply chain costs and improve efficiency. We look forward to providing additional high-quality logistics and distribution facilities in the region.”
The following details the recently signed new lease agreements:
12,300 sqm (132,000 sq ft) signed with one of China’s largest 3PL providers. This customer, one of GLP’s top 10 tenants in China by leased area, has doubled its space requirements at GLP Park Xi’an Hi-Tech within four months. They now lease over 91,000 sqm across eight locations with GLP in China.
6,300 sqm (68,000 sq ft) signed with a local 3PL company, a new customer of GLP.
In October 2012, GLP leased 55,000 sqm (592,000 sq ft) at GLP Park Xi’an Hi-tech to a leading global e-commerce retailer and one of China’s largest 3PL providers. This phase of the project was delivered two months ahead of schedule, with a construction period of 10 months from land acquisition to completion.
GLP Park Xi’an Hi-tech is GLP’s first development project in Xi’an, comprising four buildings with a total gross floor area (“GFA”) of 74,000 sqm (794,000 sq ft). The development is strategically located along the Xi-Han expressway, an important highway connection for 11 major roadways throughout the region.
GLP currently has two further developments under construction in Xi’an. These are due to be completed in October 2013 and will have a total GFA of 153,500 sqm (1.7 million sq ft).