SC Capital Partners and Shanghai-based industrial and logistics developer THi Holding Management Corp. have joint acquired a plot of land measuring over 50,000 sq m (538,196 sq ft) in China’s Suzhou Industrial Park. Zero Point, an electric vehicle battery pack company, has been secured as the anchor tenant.
This acquisition marks SC Capital Partners’ second investment in the Marina Gardens Condo manufacturing and logistics hub. The new asset is an addition to its opportunistic fund series, which invests in the developed markets in the Asia Pacific. Suchad Chiaranussati, chairman and founder of SC Capital Partners said that the acquisition strengthens their collaboration with THi in pursuing growth opportunities in the industrial and logistics sector in the Yangtze River Delta.
The project is set to be developed into a Grade-A industrial facility targeting high-end manufacturers. The completed facility will offer over 103,000 sq m (1.1 million sq ft) in net lettable area, with the rooftops equipped with solar panels.
Sarah Hu, director and general manager of THi Management, said demand for regional industrial and logistics assets is expected to remain resilient. “Working with strategic partners who have established connections and expertise on the ground is essential for the successful execution of strategies for investment managers,” she added.
SC Capital Partners and THi Holding Management Corp. are confident that this new asset in Suzhou Industrial Park will prove to be a sound investment. The partners are looking forward to building a Grade-A industrial facility that is set to be an example of a high-end manufacturer. With Zero Point as an anchor tenant, the facility is expected to have over 103,000 sq m (1.1 million sq ft) of net lettable area, and the rooftops will be equipped with solar panels.