ICHEON CITY, SOUTH KOREA-ProLogis has acquired industrial properties in three South Korean cities for $86.3 million. The acquisitions bring the Denver-based REIT’s total holdings in the country to four-million sf.

The assets are located in this city as well as Cheonan City and Milyang City. A ProLogis spokeswoman would not reveal the sellers but says that they are three separate South Korea-based third-party logistics companies.

The assets acquired Icheon, for $38.1 million, total 327,000 sf, are made up of nine facilities in a sale-leaseback transaction. In Cheonan, for $17.2 million, ProLogis acquired two buildings totaling 269,560 sf. The facilities in both of these cities are leased to third-party logistics providers.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.