Cushman & Wakefield Korea’s Capital Markets Group (CMG), a global commercial real estate services provider, has successfully completed the advisory for the sale of the prime office asset ‘Pangyo Tech One Tower’ located in Pangyo.
The transaction, valued at approximately KRW 2 trillion, marks the highest-ever sale price in the history of Korea’s office market. It also achieved a record-breaking price per square meter within the Pangyo submarket, underscoring its significance as a landmark deal. Cushman & Wakefield Korea’s CMG team executed a tailored marketing strategy targeting a diverse pool of investors—including international institutions, strategic investors (SI), and end-users—securing multiple competitive bids and enhancing the overall quality of the transaction.
‘Pangyo Tech One Tower’ is a newly developed prime office building with a gross floor area of approximately 198,000 square meters. It ranks as the third-largest office asset among Korea’s four major office districts and is recognized as the largest Trophy Asset in Pangyo. Strategically located in the heart of Korea’s tech hub, the property benefits from excellent accessibility and a robust demand base, making it one of the most sought-after assets in the market.
Cushman & Wakefield Korea’s CMG strategically highlighted the asset’s locational advantages and differentiated value proposition to attract broad investor interest. This approach fostered a highly competitive bidding environment, ultimately resulting in a transaction that exceeded the seller’s expectations.
Ryan Choi, Executive Director of Capital Markets Group at C&W Korea, stated,
“Pangyo Tech One Tower is a prime example of value maximization through broad investor engagement. Our sophisticated targeting strategy and deep market insights were key drivers behind the successful execution of this landmark transaction.”
This deal follows the successful transactions of ‘The Asset’ in 2024 and ‘Gangnam N Tower’ earlier this year, further solidifying Cushman & Wakefield Korea CMG’s leadership in the acquisition and disposition of Trophy Assets in the Korean market.
