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GLP had record year in 2020

04 February 2021

The global logistics property group signed leases for 244 million sq ft of warehousing, driven by record levels of renewal leases and e-commerce demand.

It started $5.3 billion of new development projects, up 75% year-on-year, to meet increasing customer demand.

The company said: “The pandemic has accelerated the shift towards e-commerce and digital solutions by at least two to three years and we expect these changes to have lasting effects even as the world economy begins to recover. This new landscape demands not just increased warehouse space but also the right technology, data and people to create efficiencies in the broader supply chain.”

In China, GLP signed 201 million sq ft of leases in 2020. In Europe, leasing activity grew by 69% year-on-year with approximately 11 million sq ft of agreements signed in 2020 to new and repeat customers including Amazon, DHL, Leclerc, ID Logistics, Royal Mail, XPO Logistics as well as SF Express. GLP Europe recorded $813 million of new developments started in the period, up 113 percent year-on-year, while also replenishing its development landbank.

For more information, visit glp.com/global