GLP’s Japan Development Partners IV fund has acquired a plot in a western suburb of Tokyo for the newest super-sized logistics facility within the industrial specialist’s Alfalink sequence.
At 350,000 sq. metres (over 3.7 million sq. toes), the land purchase is without doubt one of the largest ever for a logistics improvement in Japan, GLP Capital Partners stated Monday in a launch.
The deal paves the way in which for development of GLP Alfalink Akishima, an industrial park with a deliberate gross flooring space of 800,000 sq. metres, inserting it in the identical mega-scale tier as GLP Alfalink Nagareyama (900,000 sq. metres throughout eight buildings) and the not too long ago accomplished GLP Alfalink Sagamihara (680,000 sq. metres throughout 4 buildings).
“GLP Alfalink Akishima sets a new industry benchmark, not just in terms of its size and scale, but also as a model for how logistics facilities can enrich the local community and catalyse economic, environmental, and social progress,” stated Yoshiyuki Chosa, president of Japan at GLP Capital Partners. “We will continue to push the boundaries to deliver the next generation of industrial parks in Japan and across our portfolio globally.”
Rising within the West
Located 35 kilometres (21.7 miles) west of the Tokyo CBD, the longer term GLP Alfalink Akishima guarantees quick access to the Chuo and Ken-O expressways for environment friendly and scalable distribution all through Greater Tokyo.
The challenge in Akishima, an industrial suburb house to giant factories, would be the first Alfalink developed inside Tokyo prefecture. The $1 billion GLP Alfalink Sagamihara, in Kanagawa prefecture north of the capital, was accomplished in May and is totally leased to greater than 30 firms with a workforce of over 5,000 staff.
Like GLP Alfalink Nagareyama, GLP Alfalink Sagamihara is LEED Gold licensed and options workplace areas, coaching and R&D services, manufacturing facility traces and chilly storage methods housed in an open-concept design.
“Our vision for the Alfalink series was a modern open hub facility where customers can co-create and collaborate with each other, and employees and residents are able to co-exist harmoniously,” Chosa stated.
Flagship Steams Ahead
GLP Japan Development Partners IV launched in October 2021 because the fourth classic of the agency’s flagship improvement fund sequence in Japan and reached a last closing in early 2022 with $3.7 billion in complete fairness commitments.
Investors in GLP JDP IV embody the Canada Pension Plan Investment Board. The fund is anticipated to succeed in greater than $9.1 billion in belongings below administration when totally deployed.
GLP Capital Partners, the fund administration arm of Singapore-headquartered GLP, had $125 billion in belongings below administration throughout 54 funds on the finish of March.
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