{"id":1004208839,"date":"2018-03-01T07:50:01","date_gmt":"2018-03-01T15:50:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004208839"},"modified":"2022-12-08T11:32:31","modified_gmt":"2022-12-08T19:32:31","slug":"glp-continues-growth-with-9-3-msf-of-logistics-leases","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/glp-continues-growth-with-9-3-msf-of-logistics-leases\/","title":{"rendered":"GLP Continues Growth With 9.3 MSF of Logistics Leases"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"GLP<\/a>

GLP Kashiwa II, Japan<\/p><\/div>\n

GLP, a Singapore-based provider of logistics facilities, has signed new leases representing a total of 9.3 million\u00a0square feet of logistics and warehouse space worldwide during the fourth quarter of 2017.<\/p>\n

\u201cThe unprecedented growth of e-commerce continues to drive warehouse demand,\u201d <\/em>Steve Schutte, GLP\u2019s COO, said in a prepared release. \u201cAlso, we see brick-and-mortar retailers moving towards multi-channel retail strategies, which further boosts demand for logistics facilities. GLP is well-positioned to support these growth trends by offering both space and technology-led solutions to drive value for our customers.\u201d<\/em><\/p>\n

GLP\u2019s lease ratio in the United States is currently at 94 percent, with effective rent on total leases up approximately 19 percent last quarter. According to Schutte, GLP US expects the operating environment to remain favorable in the coming year, driven by continued customer demand especially from e-commerce and multi-channel retail operations.<\/p>\n

Activity around the world<\/strong><\/h2>\n

In December, GLP entered Europe for the first time with the acquisition of Gazeley, which saw 1.6 million square feet of space leased up. Notable leases were signed with two leading online retailers in Germany, as well as with UK Mail and a global retailer in the UK.<\/p>\n

Over in Japan, interest in GLP\u2019s logistics facilities was driven by domestic consumption and ongoing reconfiguration of the supply chain. In the country, GLP signed 2.3 million square feet of new leases in the last quarter of 2017, including two in Greater Tokyo\u2014GLP Niiza (ahead of completion) and GLP Kashiwa II, to Daiichi Storehouse & Refrigeration and a fast-growing domestic FMCG company, respectively. GLP also established a dozen new customer relationships.<\/p>\n

In China, e-commerce activity drove demand for modern distribution facilities in strategic locations and during the quarter, GLP signed 4.1 million square feet of new leases with leading third-party logistics and e-commerce service customers including BEST Inc., JD.com and SF Express.<\/p>\n

Brazil was responsible for another 1.1 million square feet of leases, mostly with companies operating in the pharmaceutical and food storage industries. The most noteworthy were to Raia Drogasil, one of\u00a0Brazil’s\u00a0largest drugstore chains,\u00a0and a leading food wholesaler.<\/p>\n

GLP now manages more than $46 billion\u00a0of assets and its global portfolio includes 636 million square feet spread across eight countries globally.<\/p>\n

Last February, GLP boosted its presence in the Midwest with the acquisition of two Chicago industrial assets<\/a> for a combined $33 million. Not long before that, GLP acquired a large industrial portfolio<\/a> from\u00a0Hillwood Development Co. for $1.1 billion, in several phases.<\/p>\n

Image via Google Street View <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company\u2019s customers are utilizing the facilities to service a growing demand from online and offline retail distribution channels.<\/p>\n","protected":false},"author":451,"featured_media":1004208852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21748,16,23891,21742],"tags":[32914,33822],"class_list":["post-1004208839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-industrial","category-international","category-national","category-latest","tag-e-commerce","tag-glp"],"acf":[],"yoast_head":"\nGLP Continues Growth With 9.3 MSF of Logistics Leases - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/glp-continues-growth-with-9-3-msf-of-logistics-leases\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GLP Continues Growth With 9.3 MSF of Logistics Leases\" \/>\n<meta property=\"og:description\" content=\"The company\u2019s customers are utilizing the facilities to service a growing demand from online and offline retail distribution channels.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/glp-continues-growth-with-9-3-msf-of-logistics-leases\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-01T15:50:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T19:32:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/GLP-Kashiwa-II1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/glp-continues-growth-with-9-3-msf-of-logistics-leases\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/glp-continues-growth-with-9-3-msf-of-logistics-leases\/\",\"name\":\"GLP Continues Growth With 9.3 MSF of Logistics Leases - 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