Maston Asset Management to Develop State-of-the-Art Integrated Logistics Center in Northern Gyeonggi Region

Mastern Investment Management announced on the 30th that it will introduce a low-temperature complex logistics center in Sangsu-ri, Nam-myeon, Yangju-si, Gyeonggi-do, with a scale of one basement floor to four above-ground floors, a site area of approximately 30,000㎡, and a total floor area of about 43,000㎡. It is scheduled to be completed in January 2025, and the construction company is Nongshim Engineering.

Until now, Yangju-si was classified as an area without rental-type logistics centers among local governments adjacent to Seoul. However, with the opening of the Metropolitan Area 2nd Ring Expressway, it is gaining attention as a logistics hub capable of last mile delivery (Last Mile, the final stage just before the ordered goods arrive at the destination after leaving the delivery point). The complex logistics center being developed by Mastern Investment Management is expected to be the latest rental-type complex logistics center supplied the fastest in the northern Gyeonggi region.

The Yangju complex logistics center is designed to maximize logistics operation efficiency. A loading dock was created for every 340㎡ of warehouse area, and the structure allows vehicle docking (a method where cargo trucks back into the loading dock to facilitate unloading) on all floors. It can meet the needs of various tenants. Additionally, it is notable that a standard floor height of over 10m has been secured to allow the installation of 4-tier racks.

This asset is expected to emerge as a representative last mile logistics center in the northern Gyeonggi area. Above all, the Gwangjeok IC of the Metropolitan Area 2nd Ring Expressway is just a 5-minute drive away, providing very high accessibility to neighboring cities. With rapid population growth in new towns such as Paju Unjeong New Town, Yangju Okjeong New Town, and Namyangju Wangsuk New Town, logistics demand is also solid.

The Yangju complex logistics center is the first state-of-the-art rental-type logistics center developed in Yangju-si, attracting significant interest from major shippers. The northern Gyeonggi region has many regulations such as development restriction zones, water source protection zones, and military facility protection zones, limiting the supply of logistics centers compared to other regions. According to analyses by global real estate service companies, the vacancy rate of logistics centers in the northern Gyeonggi region has recorded 0% for four consecutive quarters, indicating a shortage of supply.

Namgung Hoon, CEO of Mastern Investment Management, said, “The northern Gyeonggi area is a region expected to have high logistics demand due to its accessibility to Seoul and the development of multiple new towns and housing districts. We expect the completion of the Yangju complex logistics center to revitalize the local logistics infrastructure, and we will continue to strive to develop assets that enable a win-win situation for investors and the region.”