GLP commences development of GLP Park Cajamar in São Paulo

Global Logistic Properties Limited (GLP), a provider of logistics facilities and warehousing space, announced that it has acquired a land parcel in Cajamar, São Paulo, Brazil. The site is fully permitted for construction and is expected to provide 76,000 sq m of logistics space upon its completion by March 2016.

Mauro Dias, President of GLP Brazil said, “We are pleased to capitalize on current market conditions to secure this prime development site. São Paulo and Rio de Janeiro continue to see healthy demand for modern logistics facilities driven by a lack of supply and ongoing supply chain reconfiguration. We have a strong leasing pipeline for São Paulo and we look forward to adding GLP Park Cajamar to our portfolio.”

The GLP Park Cajamar development is under the control of GLP’s subsidiary, GLP Brazil Development Partners I. It is 30 km from metropolitan São Paulo, with access to the São Paulo Ring Road and is close to the Anhanguera and Bandeirantes highways that lead to population centres in interior Brazil. GLP Cajamar is expected to complement GLP’s existing logistics portfolio in Brazil which is 97% leased.