Global Logistic Properties, the provider of modern logistics facilities in China and Japan, announces that it has leased 451,920 sq ft at its Ichikawa Shiohama development in Greater Tokyo to Rakuten, one of Japan’s leading e-commerce companies.
The Ichikawa Shiohama project, a 50:50 joint venture between Global Logistic Properties Japan and Mitsui Fudosan Co., is a five-storey, large-scale multi-tenant logistics facility, with a net lettable area of 1,098,000 sq ft. With this new lease agreement, Ichikawa Shiohama is 40% pre-leased ahead of schedule.
Rakuten intends to use the facility to strengthen its distribution network in the region. The Ichikawa Shiohama facility marks the first lease agreement between GLP and Rakuten.
Ming Z. Mei, Chief Executive Officer of GLP, said: “We are delighted to begin a new customer relationship with Rakuten, a leading, well-respected e-commerce brand in Japan. We have already successfully pre-leased 40% of Ichikawa Shiohama development before construction has begun, underlining not just the strong demand for modern logistics space in key locations across Japan but also our facility’s attractiveness as a distribution hub in the region.”
Ichikawa is located in northwest Chiba, Japan, 15 km from the city centre of Tokyo. The project is strategically situated close to the Chidoricho Interchange Exit of the Metropolitan Expressway Wangan Line, providing convenient access to Haneda and Narita International Airports, and within walking distance to Ichikawa Shiohama station of JR Keiyo line, providing convenient access for employees. The planned expansion of the Tokyo Gaikan Expressway by 2015 is expected to further increase connectivity.
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