SC Capital Partners and Shanghai-based industrial and logistics developer THi Holding Management Corp. have jointly acquired a rectangular plot of land measuring over 50,000 sq m (538,196 sq ft) located in China’s Suzhou Industrial Park.
The partners plan to develop the plot into a Grade-A industrial facility that will offer over 103,000 sq m (1.1 million sq ft) of net lettable area with rooftops equipped with solar panels. An electric vehicle battery pack company, Zero Point, has already become the anchor tenant for the facility.
Suchad Chiaranussati, chairman and founder of SC Capital Partners, expressed his satisfaction with the acquisition. He regarded it as a positive reinforcement of their collaboration with THi Holding Management Corp. in the pursuit of growth opportunities in the industrial and logistics sector in the Yangtze River Delta. He also described the new asset in Suzhou Industrial Park as a great addition to their opportunistic fund series.
Sarah Hu, director and general manager of THi Management, shared her opinion on the investment. She believes that the demand for regional industrial and logistics assets is likely to continue increasing in the future. Hu also noted the advantage of having the right strategic partners with established connections and expertise on the ground.
The acquisition of the land in Suzhou Industrial Park presents a great opportunity for SC Capital Partners and THi Holding Management Corp. It allows them to leverage their strengths in the Asia Pacific to develop an industrial facility that is expected to be highly successful. With the anchor tenant already secured, the outlook on the investment looks promising.