GLP Leases 14500 Sqm of Warehouse Space in Suzhou China

Global Logistic Properties Limited ("GLP"), a leading logistics real estate developer in China and Japan, announced on January 30th that it had recently leased 14,500 square metres at GLP Park Suzhou Industrial (Genway) to one of the world's largest global confectionery, food and beverage conglomerates.

While the company did not release the name of its client, it did reveal that the leasing agreement marks the first collaboration of the customer and GLP in China. 

GLP Park Suzhou Industrial (Genway) is positioned near the customer's production facilities in Suzhou Industrial Park ("SIP") and also acts as its regional distribution centre given the centrally located location in the Yangtze River Delta region. This location enables the customer to fulfill the growing needs generated by the domestic consumer market. 

GLP's Suzhou (Genway) facility serves as a transfer centre among the customer's factories in SIP and other regional distribution centres in Shanghai and Beijing. In addition, the customer has expressed interest in further expanding in GLP Park Suzhou Industrial (Genway) when construction of additional facilities is completed in mid 2012.

Kent Yang, Managing Director of GLP China said: "We continue to see increasing demand for modern logistics and industrial facilities from customers across China. GLP is committed to providing customers with integral value-added logistics solutions and helping them improve supply chain efficiency. GLP will continue to work closely with an increasing number of partners to grow together as their businesses grow across China."

Located at the centre of SIP, GLP Park Suzhou Industrial (Genway) provides high-quality standard industrial space and Built-To-Suit factory space. It is jointly developed by GLP and Genway Group. GLP Park Suzhou Industrial (Genway) can be accessed within one hour from Shanghai by expressway linked with Shanghai's transportation hubs and airport. 

The park provides manufacturing and logistics platform for over 70 MNCs, including Black & Decker, Samsung, Yamaha, Panasonic, Schneider and many others. As of 31 December 2011, the 702,954 square metre park was 92% leased.