▶ RSQUARE RA: December national industrial/warehouse transaction value hits 2.3575 trillion KRW
▶ Recovery to the 2-trillion-KRW level for the first time since Nov 2021; Value up 24.1%, Volume up 4.3% MoM
▶ Cheongna Logistics Center sets new yearly record with 1.03-trillion-KRW deal; A signal of recovering investor sentiment for prime logistics assets led by global capital
According to an analysis of actual transaction data from the Ministry of Land, Infrastructure and Transport (MOLIT) by RSQUARE ANALYTICS (RA), the research arm of comprehensive commercial real estate service firm RSQUARE (CEO: Lee Yong-gyun), the national industrial and warehouse transaction market in December 2025 saw the largest mega-deal of the year. Driven by this momentum, monthly transaction value recovered to the 2-trillion-KRW level for the first time in four years.
RA's analysis shows that the national industrial and warehouse transaction value in December 2025 reached 2.3575 trillion KRW with 337 transactions. Compared to the previous month (November: 1.8987 trillion KRW / 323 cases), the transaction value increased by 24.1% and the volume rose by 4.3%. This is the first time monthly transactions have surpassed 2 trillion KRW since November 2021.
■ Yearly Record Broken Again in Just One Month
A key feature of last year’s industrial and warehouse market was that the record for the year's largest transaction was broken in two consecutive months at year-end. In November, the 'Logis Valley Ansan' logistics center in Seonggok-dong, Ansan, was recorded as the largest deal of the year at approximately 512.3 billion KRW. However, just one month later in December, this record was shattered by the 'Cheongna Logistics Center' transaction, valued at approximately 1.03 trillion KRW.
The asset was sold by Brookfield Asset Management and acquired by a consortium of KKR and Create Asset Management. The consecutive closing of even larger mega-deals toward the end of the year demonstrates that the center of gravity for large-scale transactions in the industrial and warehouse market is rapidly shifting upward.
■ A Signal of Recovering Global Investment Sentiment in Logistics Assets
This transaction serves as a clear example of global capital "selectively choosing prime domestic logistics assets." It is interpreted as a signal that foreign investor sentiment is recovering around high-quality logistics assets, even within the broader domestic commercial real estate market downturn.
However, the number of transactions in December remained in the mid-300s. This suggests that the expansion in transaction value is a rebound driven by large-scale deals for prime assets rather than a broad market-wide recovery. The spread of this momentum to small and medium-sized transactions remains limited.
■ 2024 'High Volume' vs. 2025 'Selective Deals'
This trend is also evident in the annual market structure. The total annual transaction value for national industrial and warehouse facilities in 2025 was approximately 13.6439 trillion KRW, maintaining a level similar to 2024 (approx. 12.6589 trillion KRW). In contrast, the annual number of transactions decreased from 5,863 cases in 2024 to 3,905 cases in 2025.
This indicates that rather than a sharp contraction in activity, 2025 saw a shift away from the exceptionally high number of small-scale individual transactions seen in 2024. While 2024 was characterized by an accumulation of small deals, 2025 focused selectively on a few high-quality assets. In essence, the market has transitioned into a structure where the number of deals decreased but the total value was maintained.
"Last year’s industrial and warehouse sales market saw a steady increase in investment demand focused on prime assets," stated the RSQUARE Research Center. "The record-breaking transaction closed in December is a symbolic case showing that investment sentiment for prime logistics assets is recovering even amidst a general downturn."
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▶ RSQUARE RA: December national industrial/warehouse transaction value hits 2.3575 trillion KRW
▶ Recovery to the 2-trillion-KRW level for the first time since Nov 2021; Value up 24.1%, Volume up 4.3% MoM
▶ Cheongna Logistics Center sets new yearly record with 1.03-trillion-KRW deal; A signal of recovering investor sentiment for prime logistics assets led by global capital
According to an analysis of actual transaction data from the Ministry of Land, Infrastructure and Transport (MOLIT) by RSQUARE ANALYTICS (RA), the research arm of comprehensive commercial real estate service firm RSQUARE (CEO: Lee Yong-gyun), the national industrial and warehouse transaction market in December 2025 saw the largest mega-deal of the year. Driven by this momentum, monthly transaction value recovered to the 2-trillion-KRW level for the first time in four years.
RA's analysis shows that the national industrial and warehouse transaction value in December 2025 reached 2.3575 trillion KRW with 337 transactions. Compared to the previous month (November: 1.8987 trillion KRW / 323 cases), the transaction value increased by 24.1% and the volume rose by 4.3%. This is the first time monthly transactions have surpassed 2 trillion KRW since November 2021.
■ Yearly Record Broken Again in Just One Month
A key feature of last year’s industrial and warehouse market was that the record for the year's largest transaction was broken in two consecutive months at year-end. In November, the 'Logis Valley Ansan' logistics center in Seonggok-dong, Ansan, was recorded as the largest deal of the year at approximately 512.3 billion KRW. However, just one month later in December, this record was shattered by the 'Cheongna Logistics Center' transaction, valued at approximately 1.03 trillion KRW.
The asset was sold by Brookfield Asset Management and acquired by a consortium of KKR and Create Asset Management. The consecutive closing of even larger mega-deals toward the end of the year demonstrates that the center of gravity for large-scale transactions in the industrial and warehouse market is rapidly shifting upward.
■ A Signal of Recovering Global Investment Sentiment in Logistics Assets
This transaction serves as a clear example of global capital "selectively choosing prime domestic logistics assets." It is interpreted as a signal that foreign investor sentiment is recovering around high-quality logistics assets, even within the broader domestic commercial real estate market downturn.
However, the number of transactions in December remained in the mid-300s. This suggests that the expansion in transaction value is a rebound driven by large-scale deals for prime assets rather than a broad market-wide recovery. The spread of this momentum to small and medium-sized transactions remains limited.
■ 2024 'High Volume' vs. 2025 'Selective Deals'
This trend is also evident in the annual market structure. The total annual transaction value for national industrial and warehouse facilities in 2025 was approximately 13.6439 trillion KRW, maintaining a level similar to 2024 (approx. 12.6589 trillion KRW). In contrast, the annual number of transactions decreased from 5,863 cases in 2024 to 3,905 cases in 2025.
This indicates that rather than a sharp contraction in activity, 2025 saw a shift away from the exceptionally high number of small-scale individual transactions seen in 2024. While 2024 was characterized by an accumulation of small deals, 2025 focused selectively on a few high-quality assets. In essence, the market has transitioned into a structure where the number of deals decreased but the total value was maintained.
"Last year’s industrial and warehouse sales market saw a steady increase in investment demand focused on prime assets," stated the RSQUARE Research Center. "The record-breaking transaction closed in December is a symbolic case showing that investment sentiment for prime logistics assets is recovering even amidst a general downturn."