Cushman & Wakefield Korea Corporate Solutions Team Joint Sale Advisory with Rsquare and Genstar Mate… Combining Global Network with Corporate Real Estate Expertise
Cushman & Wakefield Korea has officially launched the sale advisory for Hugel Building in a three-party consortium with RSquare and Genstar Mate. The transaction is being conducted with full vacation confirmed at 100%, as current tenant Hugel Inc. is scheduled to relocate to its new headquarters by the end of this year — a condition expected to generate strong interest from buyers across the Gangnam market.
Hugel Building is a mid-size office building completed in January 2003, comprising two basement levels and eight above-ground floors with a total gross floor area of approximately 4,307 sqm. Located just a three-minute walk from Cheongdam Station on Seoul Metro Line 7, the building offers an efficiency ratio of 64% and is widely recognized for its high space utilization relative to its site area.
As corporate direct acquisitions for owner-occupancy continue to gain momentum across the Gangnam office market, immediately available mid-size office assets in the Cheongdam-Gangnam core submarket remain extremely scarce. With the current tenant's relocation already confirmed, the buyer will have full flexibility over the entire building upon lease expiry — enabling immediate move-in for corporate headquarters use with no vacancy risk, or a value-add strategy converting the lower floors into high-end retail or medical clinic space.
The transaction is being led by Cushman & Wakefield Korea's Corporate Solutions team, whose core strength lies in structuring deals around each client's individual decision-making processes and strategic objectives — going well beyond the scope of traditional institutional real estate advisory. Rather than simple deal matching, the team incorporates non-financial considerations such as corporate culture, capital structure, and relocation timelines into a fully tailored marketing approach.
Cushman & Wakefield's global investor network spans more than 60 countries and 350 offices worldwide. For this transaction, the team will leverage to reach target not only domestic strategic investors (SI), but also institutional investors and family offices across the Asia-Pacific region. The combination of RSquare's proprietary corporate database and Genstar Mate's domestic institutional network is expected to accelerate both the pace and precision of the entire sale process.
Even as overall transaction volumes in the commercial real estate market have broadly increased, demand is increasingly concentrated on proven, well-located assets in the Gangnam core — a trend widely referred to as a 'flight to quality.' Among companies exploring corporate headquarters acquisitions in particular, preference is growing for mid-size office assets that are immediately operational and well-served by public transport. Hugel Building is considered a rare offering that precisely fits this market dynamic.
Cushman & Wakefield Korea's Corporate Solutions team stated:
"This asset stands out for its exceptional accessibility within the Cheongdam-Gangnam submarket and its rare combination of mid-size office fundamentals optimized for owner-occupancy demand. Armed with a confirmed and actionable vacation timeline and a versatile range of utilization scenarios, we will pursue active strategic investor identification and targeted marketing to secure the ideal buyer."
