Many logistics center transactions that had previously entered into pre-purchase agreements were not finalized and were eventually terminated. Due to oversupply and an increase in vacancy rates, the fundamentals of the logistics center market have significantly deteriorated, leading to many cases of contract cancellations or demands for price reductions, citing reasons such as construction delays and contractor replacements. From the seller’s perspective, there are often many cases where it is difficult to accept the buyer’s request due to the significant increase in development costs, including the rising cost of construction. This has led to conflict and lawsuits are becoming more common.     GIC and Gravity Acquire Bucheon Nae-dong […]