JLL successfully assisted two significant built-to-suit projects in East China
In recent years, built-to-suit (BTS) approach is gaining increasing interest among industrial real estate practitioners. BTS is a way of leasing property in which the developer or landlord builds to specifications of a tenant.
In April 2020, JLL Industrial team collaborated with Project Development Service team to complete a BTS project with GFA 25,000 sqm for Metso. The Finnish industrial machinery company provides technology and services to mining, aggregates, oil and gas, besides recycling pulp, paper, and other process industries. The project, with a total investment of US$380 million, started in 2017 and eventually located at Jiaxing Economic & Technological Development Zone in Jiangsu province. JLL provided one-stop services from site selection analysis to technical and bidding support, liaising with the government, and project development management. Despite the impact of COVID-19, the project was delivered successfully, thanks to the JLL team’s expertise and professionalism.
At the same time, there was another BTS project under our cap. It involved one-stop services to Kunchi’s new retail headquarters in Changshu, Jiangsu, covering a GFA of 78,700 sqm. The company specializes in personal care, beauty and other kinds of online and offline business in China, covering nearly 300 brands. With a deep understanding of the client’s needs, JLL brought Goodman onboard. The reputed Australian integrated commercial and industrial property developer will build the site to suit Kunchi’s high-standard requirements and new business needs such as live-streaming commerce. The site is set to establish another successful practice of advanced technology applications in the logistics sector in China.