GLP inks new leases in China

Around 3 million sq ft of land will be leased to Chinese players.

Logistics facilities provider Global Logistic Properties has signed almost 3 million sq ft. of new leases in China with four leaders in the e-commerce and auto parts industries.

According to the group, the leases were signed over the past three months and cater to domestic consumption. With these leases, GLP expands its relationships with four multi-location customers including two of its largest customers by leased area in China.

The new agreements include a 2.4 million sq ft lease to two leading e-commerce companies in Eastern China and a 570,000 sq ft to two auto-related companies across three locations in the said country.