CJ Logistics buys Dong Nai warehouse from Daiwa House
The 20,843-square-metre acquisition marks the South Korean logistics group's first expansion in Dong Nai.
CJ Logistics has acquired a logistics property from Daiwa House in Vietnam’s Dong Nai province. The deal, announced on October 16, covers 20,843 square metres at Long Duc Industrial Park and forms part of the buyer’s Vietnamese logistics and supply chain operations.
The purchase is CJ Logistics’ first expansion into Dong Nai, adding warehouse space to its network across Vietnam. The company is part of South Korea’s CJ Group.
The property is approximately 20 minutes from the new Long Thanh International Airport. Travel times are about 40 minutes to Cat Lai Port and 60 minutes each to central Ho Chi Minh City and Tan Cang Cai Mep – Thi Vai Port.
Cushman & Wakefield Vietnam assisted the parties with market and project assessments, negotiations, due diligence and meeting the transaction’s conditions.
Thanh Nguyen, the firm’s manager for Industrial and Office Services, said end-users were showing greater interest in buying existing facilities, rather than only renting premises or purchasing development land. He linked that shift to demand for operational properties or assets able to generate cash flow soon.
