Description
Deloitte and JonesLangLaSalle(JLL) consortium, as the sole and exclusive advisor to SkyLogisPrivateRealEstateInvestmentCompany(the“Vendor”), is pleased to offer the investment opportunity to acquire Arenas Yeongjong Logistics Center(the“Property”) located at 1328-1 Unbuk-dong, Jung-gu, Incheon, Republic of Korea.
Completed in January 2021, the Property comprises GFA of 186,095.30m2(56,293.83py) of high-quality, Grade A dry warehouse with 6 above ground floors. The Property possesses state-of-the-art specifications including ramps connecting all floors, high ceilings, and most modern fire protection systems.
Location-wise, the Property’s proximity to Incheon International Airport allows for air freight accommodation. Also, its excellent accessibility to Seoul and other major cities through Incheon International Airport Expressway and 2nd Gyeongin Expressway strengthens its strategic position as a distribution hub.
The value of the Property is expected to further increase due mainly to the scarcity of Grade A logistics stocks in the Greater Seoul and the continuous growth of the air freight market.
The consortium is seeking non-binding expressions of interest from interested parties to acquire the Property. Interested parties are being invited to execute a confidentiality agreement to be provided with the process letter and information pack, which will provide further details on the investment opportunity.
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Investment highlights
As the only leasable logistics center adjacent to Incheon International Airport, which has the world’s sixth largest air cargo handling capacity, it serves as an optimal hub location for import and export air logistics processing. It also allows quick access to the Greater Seoul via the Incheon International Airport Expressway and the 2nd Gyeongin Expressway.
With GFA of 186,095.30 sqm, the Property is the largest, only leasable logistics center with air cargo functionality within Yeongjong island, and it possesses a unique advantage as air cargo logistics due to its location.
The Property features latest specifications, including an expansive floor plate over 10,000 pyeong (33,058 sqm), ramp access to all floors, and double-sided docks with wide vehicle aisles. It also offers sustainable, modern amenities such as rooftop solar power, a cafeteria, and has earned LEED Gold certification.
With limited supply on Yeongjong island, the Property is expected to maintain its scarcity value as the only leasable logistics asset of this magnitude. The location also offers strong upside potential supported by the development of Yeongjong International City and Phase 5 expansion of Incheon International Airport.
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