To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionHeitman to repurpose Hong Kong industrial asset into cold storage facility
Heitman has acquired a 100,000-square-foot logistics asset in Hong Kong’s Fanling industrial district, according to media reports. It is considered one of the largest industrial properties in Hong Kong’s industrial submarket.
The firm plans to repurpose it into a cold storage logistics facility.
The acquisition was made in conjunction with Heitman’s global core-plus investment strategy.
“We expect demand for specialized en-bloc facilities to continue to grow on the back of close to full occupancy of cold-storage space currently across Hong Kong,” Brad Fu, head of Asia Pacific acquisitions at Heitman, told South China Morning Post.
