Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has leased 23,000 square metres (“sqm”) (248,000 square feet (“sq ft”)) to one of China’s largest express delivery companies (“the customer”) at GLP Park Zengcheng and GLP Park Yunpu in Guangzhou, Southern China. With these agreements, the customer is more than doubling its leased area with GLP and now uses GLP facilities in two major cities in China – Guangzhou and Beijing.
As a major economic and logistics center in Southern China, Guangzhou is a key market for express and third-party logistics (“3PL”) companies. The customer is leasing 18,000 sqm (194,000 sq ft) at GLP Park Zengcheng and 5,000 sqm (54,000 sq ft) at GLP Park Yunpu, two large-scale, modern logistics parks in strategic locations. The customer will use the new facilities to meet increasing demand—particularly from the e-commerce industry—for express services in Guangzhou and throughout China.
Kent Yang, President of GLP China, said: “Express companies and 3PLs are strengthening their distribution capabilities in line with the rapid development of the e-commerce industry in China, especially the B2C segment. We are excited to strengthen our relationship with this industry-leading customer, and the lease demonstrates the customer’s confidence in our facilities and service. We will continue to support our customers as they expand their distribution capabilities in major markets across China.”
GLP Park Zengcheng and GLP Park Yunpu are located in Guangzhou East Auto Industry Area and Guangzhou Development District, respectively. Both parks have excellent access to Guangzhou’s extensive expressway network and are strategically located along the Guangzhou-Dongguan-Shenzhen economic corridor. After these lease agreements, GLP Park Zengcheng is 97% leased and GLP Park Yunpu is 99% leased.