GLP Announces New Leases Totaling 98,000 sqm (1.1 million sq ft) in China

Global Logistic Properties (GLP) has inked new leases totaling 98,000 sqm (1.1 million sq ft) to five leading companies in China. According to GLP, the new leased space is related to expansion demand from the organised retail sector, including e-commerce and chain stores.
The tenants include Cainiao and Best Logistics. Cainiao is a data and technology-based logistics platform focused on e-commerce and affiliated to the Alibaba Group. Best Logistics, a leading third-party logistics provider and GLP’s largest customer by leased area in China, as well as a fast growing fresh food provider serving over 10 million small and medium-sized restaurants across China. The remaining three leases are from new customers.
GLP says demand for its modern logistics facilities is driven by the growth of e-commerce and chain stores in view of the changing retail landscape in China. The group continue to see solid demand from the food and pharmaceutical industries and look forward to supporting their customers as they grow their businesses in China.