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GLP leases 50,000 m2 of logistics space in Greater Toyko 30 March 2015

Two 3PLs sign up for 39,000 m2 and food wholesaler leases 11,000 m2

Global Logistic Properties has signed three new lease agreements totaling approximately 50,000 m2 in Greater Tokyo. The customers are using the facilities to support distribution demand driven by rising domestic consumption.

Two leading third-party logistics providers have signed leases at GLP Japan properties. Ricoh Logistics System has leased 23,000 m2 at GLP Yokohama while Fuji Logitech has leased 16,000 m2 at GLP Funabashi II. With these leases, both properties are 100.0% leased. Ricoh is a new customer relationship for GLP.

Additionally, a major food wholesaler has leased 11,000 m2 at GLP Zama, a new multi-tenant logistics facility in Greater Tokyo. The project is expected to be completed by June 2015. This is a new customer relationship for GLP.