GLP announced strong global leasing performance in the first half of 2020, signing approximately 8.9 million sqm of lease agreements over the past six months, up more than 41 percent  y/y. 

E-commerce continues to be a strong driver of leasing demand, further accelerated by changes in consumer behavior as a result of Covid-19, a trend that is expected to continue beyond the pandemic. Today, e-commerce represents approximately 40 percent of GLP’s global portfolio, compared with 20-25 percent five years ago. 

In Europe, GLP signed leases with XPO in France, Bleckmann and Focus International (part of JD Sports Fashion) in the UK, as well as with ID Logistics and a leading global e-commerce company in Germany, for a total of nearly 220,000 sqm. Additionally, GLP recently closed on the acquisition of Goodman Group’s logistics real estate portfolio in Central and Eastern Europe, which strategically expands our European presence to 11 countries.

“We are proud of these recent leasing successes and remain focused on delivering high-quality, innovative and sustainable property solutions to our customers and investors across every market where we operate. Globally, e-commerce is becoming a far more important retail channel, accelerated by changes in consumer behavior as a result of COVID-19. In the ‘new normal’, companies are reconfiguring their supply chain strategies to balance efficiency with resilience and a reassessment of ideal inventory levels will further increase demand for warehouses and demand for logistics services and facilities globally,” Ming Mei, Co-Founder and CEO of GLP, said.

(WBJ)