LOGOS secure 220,000sqm of new leases in China during Q2 2018

Media
Wednesday 5th September 2018

Tenant customer growth has been from all major sectors, with a significant proportion of the committed leases signed with new and existing customers within LOGOS’ development portfolio in Hangzhou, Changshu, Nantong, Wuhan, and Foshan. These new assets offer best-in-class single and double-storey as well as build-to-suit cold storage logistics property solutions.

Daniel Cai, LOGOS Chief Operating Officer in China, said: “We’ve seen strong demand across all major sectors in China, including automotive, third-party logistics and e-commerce, on the back of the country’s continued growth in domestic consumption and the decreasing availability of modern logistics space in strategic markets.

“Advances in supply chain technology is also an important factor driving this demand, with tenant customers requiring facilities that can incorporate automation, robotics and cold storage to meet the increasing requirements from their end customers,” he added.

LOGOS’ Changshu Industrial Park is one example of the strong leasing activity with 3PL Kerry Huicheng Logistics committing to three successive leases across 50,000sqm since the park completed construction in May 2017.

Commenting on their recent commitments, Evan Pan, Vice President of Kerry Huicheng Logistics, said: “LOGOS’s state-of-the-art facilities, superior customer service and the Park’s strategic location near Changshu’s automotive manufacturing hub have been key in helping our business continue to grow within this region.” The 220,000sqm of lease agreements have been signed across facilities that have completed in the past year or are soon to be completed, including apparel wholesaler TAISUM in LOGOS’s just- completed Foshan Gaoming Logistics Park. Located in the Pearl River Delta, the Foshan Gaoming Logistics Park is LOGOS’s first expansion beyond Eastern China and represents the Group’s commitment to growing with its customers both within China and throughout the Asia-Pacific region.

LOGOS manage approximately one million square meters of GLA across existing and under development projects within its ventures in China and will continue to expand its service offerings across the mainland’s strategic urban markets.