LaSalle Unveils Newly Completed Logistics Development in Beijing
HONG KONG / SHANGHAI (January 18, 2018) — Zenith Beijing Tongzhou Logiport increases LaSalle’s total developed logistics warehouse space in China to 720,000 sqm LaSalle Investment Management (“LaSalle”) today announced the completion of Logiport Beijing Tongzhou, a modern logistics facility with 56,000 square metres of high-quality warehouse and distribution space.
The facility is situated in the Yongle Economic Development Zone in Tongzhou, Beijing, at the centre of both the Bohai Economic Zone and Beijing-Tianjin Economic Corridor. With close proximity to Beijing city center, Logiport Beijing Tongzhou has attracted interest from various industries as a regional distribution center, and is anticipated to become a major part of the transportation nucleus in the Beijing-Tianjin-Hebei area.
Logiport Beijing Tongzhou is the tenth logistics asset that LaSalle, a real estate investment manager, has developed in China since entering the market. Prior to 2015, LaSalle had invested in and developed logistics assets comprising 290,000 square metres of space in China, and has since increased the pace of its developments. This facility joins other recent completions in key gateway markets, including Shanghai, Kunshan, Changshu, Wuhan and Chengdu, which offer an aggregate of 430,000 square metres of logistics warehouse space to tenants. LaSalle has another five logistics assets underway in its development pipeline in China, which are expected to be completed and delivered before 2019.
Alex Li, National Director – Leasing, China, LaSalle Investment Management, said: “Our strong development experience, the strategic locations of our developments, and our excellent track record working with leading e-commerce companies and logistics service providers in the region, have helped LaSalle achieve a 97% lease-up rate in all our recently completed assets. Strong domestic consumption will also continue to drive leasing demand for warehouse space.”
Claire Tang, Head of Acquisitions for China, LaSalle Investment Management, said, “Driven by the strong growth of e-commerce, modern warehouses and logistics facilities, particularly in China, are a bright spot in the Asia Pacific real estate market, and are an attractive investment proposition for investors worldwide.”
She added, “Modern logistics facilities have been a key focus for LaSalle in the region, and we plan to further capture land acquisition and development opportunities in this sector in China moving forward.”
As of today, LaSalle has developed over 5.6 million sqm of modern logistics warehouses in Japan, China and South Korea, and currently manages approximately US$2.6 billion AUM in high-quality industrial assets across the Asia Pacific region.
 JLL China Logistics Demand, June 2017
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $67.6 billion of assets in private and public real estate property and debt investments as of Q3 2019. 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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