ESR to develop large logistics facility in Japan
ESR, a large APAC focused logistics real estate platform, will invest an estimated JPY 27 billion (USD 245 million) to develop the ESR Yatomi Kisosaki distribution centre, which is set to be the largest modern logistics facility in Greater Nagoya, Japan.
Located on a prime land parcel of 79'000 sqm, ESR Yatomi Kisosaki DC will be developed into a four-storey, double-ramped, multi-tenant modern logistics facility with a total gross floor area of 153'000 sqm. It will commence construction in December 2020 with completion scheduled for end of April 2022.
Greater Nagoya, the third most populated metropolitan area in Japan with an 11 million population, contributes to approximately 10% of the country’s GDP. The region boasts one of the highest concentration of manufacturing plants in Japan and accounts for 8.2% of global automobile production. The consumers of Greater Nagoya are noted for their strong spending power. (mw)