Global real estate consulting corporations Cushman & Wakefield Korea has taken on the leasing advisory for the retail facilities at Kakao Pangyo Agit. Following its advisory experience in the Pangyo Tech One and Alphadom districts, it won an additional mandate, drawing assessments that it is expanding its influence in the retail leasing market within the Pangyo office commercial area.
Cushman & Wakefield Korea said on the 27th that it recently signed a leasing advisory contract for the first-floor commercial facilities at Kakao Pangyo Agit, located in Alphadom City Block 6-1, Baekhyeon-dong, Bundang-gu, Seongnam, Gyeonggi.
Kakao Pangyo Agit is a large mixed-use office asset with seven underground floors and 15 aboveground floors, and a total floor area of about 160,000㎡. Since its completion in 2021, it has established itself as a representative IT office in Pangyo, with major Kakao affiliates moving in. A key strength is that it is directly connected underground to Pangyo Station on the Shinbundang Line, allowing it to capture both office worker foot traffic and nearby residential demand.
In particular, the first-floor retail space subject to this advisory is operated not as a simple office support facility but as an open commercial facility accessible to outside visitors. Currently, brands such as the Kakao Friends Store and a live commerce studio, as well as Olive Young, Felt Coffee, and La Grillia, among other food and beverage (F&B) and lifestyle brands, have moved in.
In the real estate industry, the view is that the Pangyo office market has recently maintained competitiveness in the retail leasing market on the back of a stable vacancy rate and strong purchasing power. Centered on Pangyo Techno Valley 1 and 2, demand from employees at large IT companies and startups continues to flow in, and, combined with residential demand across Baekhyeon-dong and Sampyeong-dong, it is taking root as a "live-work proximity" consumer district.
Cushman & Wakefield has been steadily expanding its advisory capabilities for commercial facilities in the Pangyo area. After carrying out retail leasing advisory for Pangyo Alphadom Tower, it also took on advisory work related to Pangyo Tech One.
Yoon Hwa-seop, executive director at Cushman & Wakefield Korea, said, "Pangyo is a retail market where office demand and purchasing power are growing simultaneously, which is rare in Korea," adding, "Kakao Pangyo Agit is a highly symbolic asset with both a direct connection to Pangyo Station and Kakao's brand power, so we plan to focus on a differentiated MD strategy and tenant attraction capabilities."