GLP announced in April it has signed 2.8 million square feet (sqf) of new leases globally over the past three months.
The customers are mostly third-party logistics providers (3PL) and includes one new e-commerce customer.
The new lease agreements include 2.2 million sqf of space leased to to three 3PL customers in China, 237,000 sqf to two new 3PL customers in the US, 205,000 sqf to two existing 3PL customers in Japan, and 183,000 sqf 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.
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 optimisation.”
GLP owns and manages a global portfolio of 54 million square meters, with dominant market positions in China, Japan, US and Brazil.