Global Logistic Properties on Monday said Beijing Aviation Ground Service Co Ltd has signed a 20-year lease with its 53-per cent subsidiary, Airport City Development Co Ltd.
The lease of the 60,000 sq m facilities at ACL's bonded air terminal warehouse at Beijing Capital International Airport, carries a contract value of 850 million yuan (US$134 million) for the first ten years - GLP's largest lease by value.
"We believe it is also the largest logistics lease ever in China," said Kent Yang, Managing Director of GLP China.
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