The latest in the realty deals space among listed companies in Singapore has seen GLP acquire 448,000 square feet of distribution facilities in Chicago for $33 million, while Fragrance Group Limited has incorporated a subsidiary in the United Kingdom for the acquisition of a Liverpool property.
GLP acquires 448,000 sq ft property in Chicago for $33m
GLP announced on Wednesday that it acquired 448,000 square feet of distribution facilities in Chicago for $33 million.
In a filing to the Singapore Exchange, the logistics facilities provider said the buildings were acquired from institutional owners in two separate transactions and comprise multi-tenant assets 100 per cent leased to new and existing GLP customers.
The first property is a fully leased 308,000 sq ft distribution building in Bedford Park, a desirable in-fill sub-market located near Chicago’s Midway Airport, which is home to major FedEx, UPS and USPS facilities, along with the CSX intermodal.
The second is a fully leased 139,000 sq ft distribution building that is strategically located in Western Cook County with access to Chicago’s urban population density and proximity to major highways.
Amy Curry, GLP’s Eastern Regional Director, said, “GLP remains on the lookout for opportunistic assets that will strengthen our network of state-of-the-art logistics facilities to better serve customers across the US.”
Fragrance Group sets up UK subsidiary to acquire Liverpool property
The subsidiary, a property investment company with an initial paid-up capital of £1 million, has emerged as the top contender from the tender exercise to acquire the property located at Dale Street, Liverpool, L2 2DH, United Kingdom.
The 4,570 sq m property, is a historical building that spans three floors. It also has 11,494 square metres of floor area.
Following the successful award of the tender, the acquisition of the Property is not expected to have a material impact on the net tangible assets or earnings per share of the Company for the current financial year ending 31 December 2017.