Walmart Announces the Launch of Phase 2 of Beichen Logistics Park Project

Online, January 23, 2013 (Newswire.com) - Walmart, the world's largest retailer, announced today the commencement of Phase 2 of the Gazeley Beichen Logistics Park project in Tianjin, China. The property is owned by Walmart and is being developed by Gazeley, a leading global provider of high quality, cost effective warehouses.

Due for completion by the 1st Quarter of 2014, Phase 2 consists of three high specifications, international grade warehouse buildings totaling 60,000 m2 of gross internal floor area. The independent buildings range from 18,000 to 24,000 m2 each and are divisible by 6,000 m2 units.

Phase 2 follows the successful development of Phase 1, which comprises Walmart's 43,000 m2 North China regional distribution centre (RDC), together with a 24,000 m2 North China RDC leased to Nestle.

Commenting on the launch, Joe Allbright, Vice President of Real Estate Development for Walmart Asia said "Walmart is pleased to expand the park and deliver world-class warehouse facilities into the rapidly growing Tianjin market. The partnership between Beichen High Tech Park, Gazeley, and Walmart has been essential to our success with this project."

The property is located within Beichen High Tech Industrial Park, an area chosen based on its strategic location with proximity to the regional seaport, road and rail network. The site is 15 km from Tianjin city centre and easily accessible to all points in Greater Beijing.

Also developed by Gazeley, Phase 1 of the project was delivered under budget and on schedule, with substantial engineering design efficiencies and other cost savings that have been passed on to the customers.

Phase 2 will have the same efficient design and be built to the same high standards. Additionally, a number of enhancements have been incorporated, including cost effective energy efficiency features that will further reduce end-users' operating costs.

Sally Lin, Country Director of Gazeley China said "We are delighted to continue our work with Walmart to build the Beichen project as a strategic base for blue-chip companies. The launch of Phase 2 is an exciting opportunity for us to expand in China, along with our pipeline of new build-to-suit and speculative development opportunities that we plan to deliver with our best-in-class service and technical expertise."