GLP to build logistics facility in Osaka for $66.8m

The project is expected to be completed in 2Q18.

Banking on significant development opportunities in Japan, Global Logistic Properties (GLP) will begin the construction of GLP Neyagawa, a new logistics facility that will rise in Osaka near key transportation infrastructure and large population concentrations.

According to GLP, the facility’s total development cost is estimated at $66.8 million or about JPY5 billion. The group expects to complete the project between April to June 2018.

“We see attractive fundamentals in the Japan market continuing and absorption should remain strong, driven by ongoing customer demand,” said Yoshiyuki Chosa, president of GLP Japan.

The 27,000 sqm facility is located around 14 km from Osaka city center and enjoys optimal access to the Kinki and Chugoku Expressways.

Aside from the upcoming facility, GLP has a strong development track record in the Greater Osaka region. It is currently constructing GLP Suita, a 146,000 sqm facility worth $449.5 million (US$330 million) in total investment and is expected to be completed by August 2017.

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