Mastern Investment Management Develops 23,000-Pyeong Logistics Center in Daegu

A bird's-eye view of the logistics center 'LogisPoint Daegu' presented by Maston Investment Management in Daegu Metropolitan City.

[Asia Economy Reporter Minji Lee] Maston Investment Management announced on the 8th that it will introduce a large-scale logistics center, 'LogisPoint Daegu,' with an area of over 20,000 pyeong in Daegu Metropolitan City.

This project is structured so that 'Maston No.127 LogisPoint Daegu,' which completed the transfer of ownership of the project site last July, acts as the project operator by purchasing the land, developing the logistics facility, and distributing rental income during the operation period to the beneficiaries. The basement two floors to the third floor above ground will be used as cold storage, and the fourth to fifth floors above ground will be used as ambient temperature storage, with a total floor area of approximately 77,000 m² (about 23,000 pyeong).

The project site is located in Daeheung-dong, Suseong-gu, Daegu Metropolitan City, and has high accessibility to the center of Daegu, securing optimal competitiveness for urban logistics. A large-scale complex shopping mall is planned to be built directly across from the project site. From the logistics center, major cities in the Gyeongsang region such as Gumi, Pohang, Gyeongju, and Busan can be reached within about an hour, making it expected to establish itself as the RDC (Regional Distribution Center) of North Gyeongsang Province.

Additionally, while Daegu Metropolitan City's population exceeds 2.4 million, there is a scarcity of large logistics centers over 10,000 pyeong, increasing its rarity value. The supply of domestic logistics centers is concentrated in the metropolitan area, resulting in a shortage of logistics center supply relative to the population in the Gyeongsang region.

The hinterland demand of nearby major cities is also abundant. The combined population of Daegu, Pohang, Gumi, Gyeongsan, and Gyeongju exceeds 3.8 million, and the population of Busan Metropolitan City, Ulsan Metropolitan City, Changwon, and Gimhae exceeds 6 million.

The project is scheduled to begin construction in the first half of next year and aims for completion in the second half of 2023. The recent market atmosphere is also expected to positively influence future tenant recruitment. As demand for infrastructure logistics centers increases, more clients prefer large logistics centers that can secure a large amount of space rather than small ones. Furthermore, the fact that major dawn delivery companies plan to expand services beyond the metropolitan area to metropolitan cities and nearby major cities is also favorable from the perspective of logistics center leasing marketing.

Meanwhile, Maston Investment Management is an alternative investment specialist asset management company, with cumulative assets under management (AUM) exceeding 25.2 trillion KRW as of September this year.

This content was produced with the assistance of AI translation services.