3PL & E-COMMERCE DRIVE DEMAND FOR GLP'S MODERN LOGISTICS FACILITIES
Shanghai/Chicago/Tokyo/São Paulo, 6 April 2017 - GLP, the leading global provider of modern logistics facilities, has signed 264,000 square meters ("sqm") (2.8 million square feet ("sq ft")) of new leases globally over the past three months. The customers are mostly third-party logistics providers ("3PLs") and includes one new e-commerce customer for GLP.
The following details the new lease agreements:
• 206,000 sqm (2.2 million sq ft) to three 3PL customers in China including Best Logistics, one of GLP's largest customers in China by leased area
• 22,000 sqm (237,000 sq ft) to two new 3PL customers in the US
• 19,000 sqm (205,000 sq ft) to two existing 3PL customers in Japan
• 17,000 sqm (183,000 sq ft) to a new e-commerce customer in Brazil
The 3PLs are using GLP's facilities to service end-user demand from the auto parts, food and consumer goods industries.
Mr. Ming Z. Mei, Chief Executive Officer of GLP said: "Trends in e-commerce and domestic consumption continue to drive demand globally. We see many retailers and manufacturers continuing to outsource their delivery services to third-party express companies for better operational efficiency and cost optimization. GLP's high-quality facilities and strategic locations enable its 3PL and e-commerce customers to deliver the highest levels of service and logistics efficiency. We look forward to supporting our customers as they continue to grow."
About GLP (www.glprop.com)
GLP owns and manages a global portfolio of 54 million square meters, with dominant market positions in China, Japan, US and Brazil. Domestic consumption is a key driver of demand for GLP. The Company is one of the world's largest real estate fund managers, with assets under management of US$38 billion.
GLP is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).
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.
More Info: https://www.glprop.com
