L-Square Mieum Logistics Center

1656-2 Mieum-dong, Gangseo-gu, Busan, Busan, 46747, KR

Description

Jones Lang LaSalle (JLL), as the sole and exclusive advisor, is pleased to offer a rare logistics investment opportunity, comprising a logistics center located in Busan’s most attractive logistics locations. L-square Mieum Logistics Center, located at 1656-2 and 1656-3, Mieum-dong, Gangseo-gu, Busan, Korea (the “Property”) comprise 77,913 sqm of prime logistics space.

The Property is strategically located in Mieum District, one of major five logistics districts within in the Busan-Jinhae Free Economic Zone (the “BJFEZ”), offering a strong locational advantages in the western Busan area while being able to cover cargo volumes throughout Busan-Ulsan-Gyeongnam area. Situated near Busan New Port, the world’s second-largest transshipment port, the Property can encompass maritime cargo volume, and with Gimhae International Airport located within a 10km radius (30 minutes by car), it serves as an integrated logistics infrastructure that includes land, sea, and air transportation.

The Property features a prestigious tenant roster including CJ Logistics and LX Pantos, maintaining a 100% occupancy rate. The Property generates robust and predictable income streams through high-quality lease covenants while simultaneously presenting significant upside potential.

JLL is seeking non-binding expressions of interest from interested parties to acquire

the Property.

...

Attributes

Building area gross

838,649 sf

Occupancy

100%

Year built

2022

Land area gross

302,164 sf

Call for offers

30/08/2025

Media

Investment Highlights

Strategically positioned within the Mieum District of the BJFEZ, a prime location attracting prime tenants in Busan, the Asset offers both locational advantages and growth potential. Its proximity to Busan New Port and Gimhae International Airport creates a multi-modal logistics solution covering import/export flows and distribution throughout the Busan-Ulsan-Gyeongnam corridor.

LX Pantos, which occupies 51% of the total area, has approximately 1 year remaining until the end of its guaranteed lease period and about 2 years until the lease expiry. LX Pantos’ rent is relatively low compared to the market, therefore when the lease is renewed or new tenants are attracted in the future, increase in the rent level is expected. Additionally, market uncertainty and the resulting delays in new supply are acting as factors that further strengthen the competitiveness and investment attractiveness of this asset.

L-square Logistics Center is a prime logistics center let entirely to CJ Logistics and LX Pantos, Korea’s leading integrated logistics companies. This investment secures stable and predictable cash flows through highly credible tenants and 100% occupancy rate.

As a newly constructed logistics center, the Asset features specifications that are highly preferred by tenants. It offers access to all floors with bi-directional ramps, and its spacious yard area, and 11m high ceiling together maximize cargo handling efficiency. The ceiling structure and upper canopy covering all floors enable stable logistics operations regardless of weather conditions.