Warehouse developer Global Logistic Properties Limited (GLP) has signed three new lease agreements totaling 39,000 square meters (420,000 square feet) in Xi’an, and Suzhou.
The leases, with three different companies, in two separate cities, include an agreement to provide warehouse space to China Vanke, the nation’s largest residential developer.
Speaking of the three new agreements, Kent Yang, President of GLP China, said: “Sustained growth in consumption and increased outsourcing is driving demand for modern logistics facilities across China.”
Vanke Taking Up Space in Xi’An
The biggest of the three deals was to provide 17,000 sqm (183,000 sq ft) of warehouse space for China Vanke at GLP Park Xi’an ETDZ, in Shaanxi province.
Vanke, the largest residential real estate developer in China, will utilize the facilities for storage and distribution of household fixtures and appliances for its development projects in Xi’an, ensuring on-time construction delivery and product quality.
Two Deals in Suzhou
The Singapore-listed warehouse builder also leased out 12,000 sqm (129,000 sq ft) to a leading hypermarket chain in China at GLP Park Wangting in Suzhou, Eastern China. In a release GLP said the customer will use the facility for distribution to stores in Suzhou and the surrounding region.
In a second deal in Suzhou, GLP agreed to provide 10,000 sqm (108,000 sq ft) to ANE Logistics also at GLP Park Wangting in Suzhou, Eastern China. ANE is a leading third party logistics (3PL) company in China and will use the facilities to establish a regional distribution center mainly serving Suzhou and Wuxi, providing less-than-truckload transportation service to their customers.