In 2021, Hines acquired a 330,000 SF site to develop Namyang Logistics (“Namyang”), a prime logistics property in Greater Seoul.
The site is strategically located in Hwaseong, Greater Seoul, targeting 21mm population within 50 kilometers. Superior access to the expressway system, airport and harbors enables last-mile delivery to Southern Seoul metropolitan area.
The multi-story cold and dry storage building will be constructed with the highest standards for modern industrial buildings. All the four floors are accessible via ramp, 10m floor heights, 2.0-2.5t/sqm load capacity, and provide multiple temperature solutions.
Currently in pre-development, the construction commenced in November 2021 with target completion in 2Q 2023.