LaSalle Asia Opportunity V, a fund managed by LaSalle Investment Management, has acquired Shanghai International Plaza (SIP) from Alpha Asia Macro Trends Fund II.
A sales price was not disclosed.
SIP is a mixed-use office and retail building located in the vibrant Sichuan North Road precinct with a view of the Shanghai Bund. The property has a total gross floor area of approximately 603,000 square feet spread across 24 stories of office as well as a six-story retail podium. In line with LAO V’s investment strategy, LaSalle plans to further augment the building’s existing refurbishments, refreshing interior spaces for greater tenant appeal and satisfaction.
The property offers immediate access to Metro Line 10, and is within walking distance to Metro Lines 3, 4 and 12.
Sichuan North Road precinct is a mature business area in the HongKou district. The overall office occupancy rate stands above 90 percent and is currently supported by logistics, ship
