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Tag: Warehouses

  • ESR Kendall Square Sells Pyeongtaek Warehouse to Samsung SRA for $253 Million

    ESR Kendall Square Sells Pyeongtaek Warehouse to Samsung SRA for $253 Million

    ESR Kendall Square sold Pyeongtaek Logistics Park to a Samsung SRA Asset Management vehicle backed by South Korea’s National Pension Service for KRW 343 billion ($252.6 million). The transaction closed on 1 September at KRW 1.8 million per square metre of gross floor area.

    The deal transfers one of South Korea’s largest modern sheds from foreign pension backing to domestic institutional ownership. ESR built the 2023-vintage facility with capital from Canada Pension Plan Investment Board and Dutch asset manager APG. Samsung SRA funded the acquisition through a KRW 400 billion core fund that drew KRW 250 billion from the National Pension Service alongside capital from Samsung-affiliated insurers.

    Hub for Port and E-Commerce

    Pyeongtaek Logistics Park spans 190,000 square metres across a 165,827-square-metre site in the Poseung district of the Gyeonggi Free Economic Zone. E-commerce platform SSG.com pre-leased the entire ambient facility in late 2021 before ground broke.

    Located three kilometres from Pyeongtaek Port, the property features direct ramp access to every floor, high ceilings, South Korea’s largest single-floor warehouse footprint, and 10 megawatts of power capacity. Logistics inventory in Pyeongtaek expanded more than 1.7-fold between 2022 and mid-2025 as third-party logistics firms and end-users absorbed space near regional automotive and electronics clusters.

    Capital Flows Shift Domestic

    Institutional buyers are moving on cash-flowing assets in South Korea as new warehouse construction drops sharply from post-pandemic peaks. Overseas capital accounted for more than 60 percent of industrial trades in 2025, but Korean managers with long-term domestic mandates are now securing completed, fully leased assets as supply eases and ambient rents start to climb.

    Greater Seoul logistics net absorption rose 42 percent to 164,000 square metres in the second quarter, while nominal rents reached $7.65 per square metre per month. Investors are tracking second-half completions, which fell to one-third of their year-earlier level, to test how quickly remaining vacancies tighten across the capital region.

  • Warehouses coming to Laos, Cambodia gates

    Warehouses coming to Laos, Cambodia gates

    Viet Nam will have some 116 warehouses at the border gates with Laos and Cambodia by 2035, according to the Ministry of Industry and Trade.

    Under Decision 229/QD-BCT issued on January 23, the ministry said it would develop professional and modern warehouses with enough logistics services to keep import and export goods at these border gates.

    The warehousing system will promote sustainable development of import and export activities along the border lines, especially exports at border gates along border lines between Viet Nam and the two countries.

    According to specific targets of the plan, by 2025, the warehousing system will meet all demand of the area and have enough capacity to store import and export goods at the border gate regions.

    Eighty per cent of the warehouses will be required to provide important and necessary logistics services, such as storage, handling, inspection and implementation of customs procedures for import and export goods.

    The plan includes the upgrade or building of at least one warehouse at an international border gate region or a major border gate to meet the demand of import and export goods. All goods under the warehousing system will be inspected for quality, food hygiene, safety and other related standards.

    The ministry expected the plan to ensure stability and step-by-step promote growth of imports and exports at border gates along border lines between Viet Nam and the two countries.

    By 2035, all border gates along those border lines will have a completed warehousing system, including 116 existing and newly-built warehouses, to meet all warehousing demand for import and export goods and provide synchronous logistics services for promoting rapid and sustainable development of import and export activities, the ministry said.

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