Announced on October 16, the transaction covers a 20,843-square-metre facility, with CJ Logistics – a member of South Korea's CJ Group – acquiring it as part of its integrated logistics and supply chain management operations across Vietnam.
The acquisition marks CJ Logistics' first expansion in Dong Nai, one of southern Vietnam's key logistics hubs, strengthening its warehousing capacity and nationwide operational network. As of the second quarter, Dong Nai accounted for approximately 32 per cent of the total ready-built warehouse supply in the Southern Key Economic Region.
The province continues to advance planning initiatives, investment procedures, and infrastructure development to enhance its investment attractiveness, while demand for vacant industrial land remains stable. Factory leasing demand increased by 4 per cent on-year, while warehouse occupancy remained strong, with 88.4 per cent absorption of existing supply.
Benefiting from Dong Nai’s strategic location and rapidly improving infrastructure, Daiwa House’s facility offered strong advantages aligned with CJ Logistics’ expansion plans.
The property is located approximately 20 minutes from the new Long Thanh International Airport, 60 minutes from Ho Chi Minh City Center, 40 minutes from Cat Lai Port, and 60 minutes from Tan Cang Cai Mep – Thi Vai Port. It also enjoys convenient access to Ho Chi Minh City, neighbouring industrial clusters such as Binh Duong and Ba Ria – Vung Tau, and northern provinces via the North-South Expressway network.
The transaction was done by Cushman & Wakefield who had supported both parties across market and project assessment, negotiations, due diligence and the fulfilment of transaction conditions.
Thanh Nguyen, manager, Industrial and Office Services at Cushman & Wakefield Vietnam, believes Dong Nai’s logistics market is entering a phase of substantial growth, driven by economic growth, domestic consumption, significant infrastructure investment and strong connectivity.
“The province is emerging as a new growth catalyst for Southern Vietnam. We are seeing a noticeable shift in demand within Vietnam’s industrial and logistics market, with growing interest from end-users in acquiring existing, high-quality facilities rather than solely leasing space or acquiring land for development. This trend reflects increasing demand for assets that are already operational and/or capable of generating cash flow in the near term,” said Thanh.
| Representatives from Cushman & Wakefield, Daiwa House, and CJ Logistics at the completion of the logistics warehouse transaction in Long Duc Industrial Park. Photo: C&W Vietnam |
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