LaSalle Completes Development of Three Grade A Logistics Facilities in Greater Shanghai
SHANGHAI (October 26, 2020) — LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announced the on-time completion of three new LaSalle Logiport logistics facilities in Greater Shanghai. With strong pre-leasing momentum indicative of a solid market for high-specification logistics facilities in the Shanghai region, the new Grade A facilities are an impressive addition to the LaSalle portfolio.
LaSalle Logiport Shanghai Qingpu is a 47,000-square-meter logistics facility situated in a prime location in the Qingpu Industrial Zone. Only 50 kilometres from Shanghai’s central business district, Qingpu district straddles key regional transportation routes and is a vital part of the Yangtze River Delta Economic Zone. The new two-storey double-ramped Logiport facility has been fully pre-leased to a leading global integrated express courier and logistics operator.
LaSalle Logiport Suzhou, located in Wangting International Logistics Park, is a state-of-the-art facility providing 51,000 square meters of logistics space in a two-storey double-ramped building completed at the end of September. It is close to Suzhou city, a hub of international trade and business, and 90 kilometres from Shanghai’s central business district. Eighty-two percent of the state-of-the-art facility has been pre-leased to a major retailer and e-commerce leader in China.
LaSalle Logiport Jiaxing is a two-storey double-ramped logistics facility located in Pinghu Logistics Park at Dushan Port. Serving Yangtze River Delta traffic and international maritime transport, the Park is also only 90 kilometres from Shanghai’s central business district. Completed at the end of September, the new Logiport hub has a total floor area of 96,000 square meters, fifty four percent of the facility has been pre-committed to one of China’s largest e-commerce logistics companies.
The three properties are new additions to the LaSalle Asia Opportunity Fund series, which invests in diversified real estate with a value-add investment strategy.
Mark Gabbay, CEO Asia Pacific of LaSalle Investment Management, said: “The Covid-19 pandemic has underscored the importance of efficient distribution. As China leads the economic recovery in Asia Pacific into 2021 and beyond, LaSalle Logiport is giving high-calibre multinationals access to Grade A logistics facilities that support their ongoing growth. The timely completion and successful leasing of these well-located facilities highlight our ability to execute and deliver on China logistics investment opportunities.”
LaSalle has a long track record in China logistics, completing more than US$2.1 billion of transactions since 2008. LaSalle currently manages over US$4 billion of logistics investments across key markets in Asia, including China, Japan and Korea.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages more than $69 billion of assets in private and public real estate property and debt investments as of Q3 2020. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.
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