ESR successfully completes 5.6msf of class A, 100% pre-leased logistics
ESR-Kendall, ESR Group’s South Korean platform, has completed a total of 520,000 square meters (5.6 million square feet) of class A logistics, 100 percent pre-leased warehouse space, in South Korea during the first half of 2022.
“Customer and investor demand for class A logistics warehouse space continues to surge on the back of continued e-commerce adoption,” said Thomas Nam, CEO of ESR-Kendall Square, ESR’s South Korean platform. “With this favorable backdrop, our sizable existing portfolio has achieved a record of over 99 percent occupancy today. We are proud of the successful completion of this logistics portfolio as the scale, advanced building specifications, sustainability, efficiency are all testament to what ESR is renowned for in delivering enterprise value to our customers and capital partners.”
The newly completed space with seven warehouses located across the Greater Seoul Metropolitan area, has been 100 percent pre-leased to reputable tenant