GLP expands in China

   Global Logistic Properties (GLP), an operator of warehouses in China and Japan, has added 86,900 square meters of both new and expansion leases in its China portfolio.
   The company now has roughly 5.8 million square meters of space in China.
   GLP has three new lease agreements catering to China’s growing domestic market. First is a 52,500-square-meter area leased to Dahang International Transportation, a subsidiary of Hitachi Transport System, at its location in Tianjin, Northern China. There is also a 24,400-square-meter lease to Ihush, an online retailer selling discounted branded fashion, at GLP Park Kunshan in Suzhou, Jiangsu, China.
   The company’s third new lease is a 10,000-square-meter pre-leased to Deppon Logistics, a domestic third-party logistics provider, at its regional distribution center in Northeast China. Deppon will occupy the space at GLP Park Hunnan in Shenyang in May, when construction is scheduled to finish.