GLP signs long-term lease agreement with DHL Supply Chain

Mainboard-listed Global Logistic Properties (GLP) on Monday said it has signed a long-term lease agreement with DHL Supply Chain, a Japanese subsidiary of logistics firm DHL group.

This would be the third lease agreement that DHL group has with GLP in Japan, bringing GLP’s overall Japan portfolio to 99 per cent leased.

GLP said it sees robust demand for modern logistics facilities.

It added that with this latest agreement with DHL, its property located in the Chiba Prefecture, GLP Urayasu III, will now be at 100 per cent occupancy.

Occupying over 34,800 square meters, the property will function as a distribution centre for apparel products of DHL Supply Chain.

Source : Channel NewsAsia – 18 Jul 2011