GLP Pre-Leases Two Properties In Greater Tokyo

Global Logistic Properties (GLP) announced the leasing of 114,000 square meters in Greater Tokyo, With these new leases, two development properties in Japan – GLP Atsugi II and GLP Sayama-Hidaka I – are 100 percent leased ahead of their completion.

GLP Atsugi II will be leased by a leading retailer, marking the first direct leasing agreement between GLP and the customer who previously utilized other GLP facilities through third party logistics (3PL) providers as well as a new customer, UDL, a major 3PL service provider in Japan.

GLP Atsugi II is a 74,000 sqm modern logistics facility located in Kanagawa Prefecture, one more the most important distribution regions in Greater Tokyo. The 100 percent GLP owned development is currently under construction and expected to be completed in June 2016.

GLP Sayama-Hidaka I will be wholly leased by a subsidiary of a leading global automotive corporation, representing a new customer relationship for the group. GLP Sayama-Hidaka I is a 40,000 sqm modern logistics facility located in Saitama Prefecture, Greater Tokyo developed under GLP Japan Development Venture, a 50:50 joint venture between the group and the Canada Pension Plan Investment Board, and expected to be completed in December 2015.

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