GLP: To construct a 79.0k sqm multi-tenant log facility in Soja, Japan in June 2012 which will cost US$103m. This project is expected to be completed in Feb 2013. This is the 2nd dev under the Japan Dev Fund a 50/50 JV btwn co and the Canada Pension Plan Invt Board. The Soja facility has already been preleased up to 39% and has received indicative interest of over 5x the remaining NLA.
Co also announced that it has leased a 91k sqm fulfillment centre in Tianjin, China for a leading global e-commerce retailer. The project, GLP Park Wuqing, is strategically located between Beijing and Tianjin. This park will be the 5th collaboration btwn GLP and the customer (a global e-commerce retailer) and will be its largest fulfillment centre in Northern China when fully complete.
GLP results will be out on the 14th of Feb. GLP currently trades at approx P/B of 1.0x
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