National + Industrial | January 15, 2019

GLP Leases 209M SF in Record Year

Global Logistics Properties (GLP) tallied up 209 million square feet of industrial leases during 2018, a 12-month record for the Singapore-based company. The total included 40 million square feet across its U.S. portfolio, which also ended the year with its highest occupancy to date at 96.5%.

The year’s second half was especially strong in terms of leasing volume, GLP reported. “In addition to expanding our geographically-diverse portfolio, we achieved record leasing through the dedication of our team and the value-add GLP provides through its technology-led ecosystem,” said CEO Ming Mei. “We remain strategically positioned to serve our customers with innovative solutions beyond their primary warehouse needs.”

GLP entered the American market in 2015 with its acquisition of Blackstone’s U.S. industrial platform. Currently, it manages US$16 billion of funds syndicating its ownership in the U.S. properties.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).