Skip Ribbon Commands
Skip to main content

News Releases

Singapore & Tokyo

Jones Lang LaSalle advises on USD277 million logistics portfolio sale in Japan

SINGAPORE & TOKYO, 3 October, 2013 - Global Logistic Properties (GLP) and GLP Japan Income Partners I, advised by Jones Lang LaSalle’s Asia Pacific Capital Markets team, has sold a portfolio of seven logistics properties to GLP J-REIT for approximately 27.5 billion Yen (USD 277 million)*. The transaction completed on 1 October 2013.

The 184,000 sqm (gross floor area) portfolio is 100 percent occupied by seven single tenants, including well-known domestic third-party logistics provider (3PL) companies. The properties are concentrated in Greater Tokyo and Greater Osaka (71 percent of the portfolio’s net leasable area is in these two locations), and are fully occupied under long-term fixed leases.

Stuart Crow, head of Asia Pacific Capital Markets at Jones Lang LaSalle said: “The portfolio enjoys a stable income profile and there is potential for upside as the Japanese economy recovers and its logistics market continues to grow on the back of the nation’s rapidly expanding e-commerce and 3PL service sectors.” 

He continued: “The Japanese logistics market is enjoying good health at the moment - new supply is expected to be limited for the foreseeable future and as a result rents are expected to sustain a positive growth trend over the next 12 months. All of these factors make the sector an attractive play for real estate investors at the moment.”

This is the fourth logistics transaction that Jones Lang LaSalle’s Asia Pacific Capital Markets team has advised on in the past 20 months, bringing total transaction volume to USD2.35 billion.

– ends –


Notes to editors

*Exchange rate: USD 1 = JPY 99.3 (September 2, 2013)


About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management
Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 26, 100 employees operating in 79 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in three Asia Pacific countries at the International Property Awards Asia Pacific 2013, and won nine Asia Pacific awards in the Euromoney Real Estate Awards 2013. 
200 East Randolph Drive Chicago Illinois 60601 │ 22 Hanover Square London W1A 2BN │ 9 Raffles Place #39–00 Republic Plaza Singapore 048619