GLP has signed leases totalling 98,000 sq m with five leading companies in China. The companies include data and technology-based logistics platform Cainiao and 3PL Best Logistics. The leased space is mainly related to expansion demand from the organized retail sector, including e-commerce and chain stores. The other three leases are new customer relationships for GLP.
Victor Mok, Co-President of GLP China, said, “The China retail landscape is changing. The growth of e-commerce and chain stores are driving demand for GLP’s modern logistics facilities. We continue to see solid demand from the food and pharmaceutical industries and look forward to supporting our customers as they grow their businesses in China.”
Source: Global Logistic Properties