In November 2020, Hines and Metropolitan Real Estate Equity Management acquired a 362,000-square-foot (33,700-square-meter) cold storage facility and adjacent development site in China’s Greater Bay Area. The Class A cold chain asset and development site are strategically located in Dongguan’s Shatian District, the premier logistics hub for the Greater Bay Area.
In addition to assuming ownership of the existing operating asset, Hines and Metropolitan will pursue a development program to construct an additional multi-story cold storage complex on the adjacent site, offering much needed cold chain infrastructure to the rapidly growing region.