Global real estate investment management firm Heitman has finished its acquisition of the Yeoju Distribution Centres A & B, two newly-developed, fully-leased, class-A warehouse facilities located in Yeoju, a city in South Korea’s Gyeonggi province.

The property is comprised of two state-of-the-art warehouse centers, with more than 65,000 square feet of combined gross floor area.

Heitman acquired the first warehouse in March 2020 and recently acquired the second. It acquired the assets on behalf of an affiliate of the firm through a local appraisal management company.

Located approximately 60 kilometres from Seoul, the property has direct access to the capital city's Gangnam business district and the city of Busan via the Central Inland Expressway.

“We are pleased to announce the acquisition of the Yeoju Distribution Centres,” says Yun Choi, executive vice president, portfolio manager, and director of Heitman’s Seoul office. “The property is well-located in a strategic logistics sub-market of Greater Seoul and provides our portfolio with quality logistics assets supported by credit tenants in a rapidly growing e-commerce economy.”