Cushman & Wakefield sells Seoul office tower for $460M

Cushman & Wakefield (NYSE: CWK) has closed the sale of G-Tower, a prime office building located in Guro, Seoul, South Korea, for approximately $460 million (KRW 700 billion), according to a company statement.

The transaction is described as the largest office deal by gross floor area in South Korea's commercial real estate market in the first half of 2026. The asset spans 1.8 million square feet.

The deal was structured as a sale-and-leaseback arrangement, allowing the seller to monetize the asset while retaining occupancy. The transaction closed despite what the company characterized as a high-interest-rate environment and tightened real estate financing conditions.

Cushman & Wakefield's Corporate Tailored Solution team in Korea managed the transaction, providing services including pre-sale asset positioning, market due diligence, investment marketing, and lease structuring.

Dan Kim, Deputy Managing Director at Cushman & Wakefield in Korea, said: "A growing number of large corporations and technology companies are actively exploring headquarters sales and real estate portfolio rebalancing to improve liquidity and optimize asset efficiency."

Cushman & Wakefield reported revenue of $10.3 billion in 2025 and employs approximately 53,000 people across more than 350 offices in nearly 60 countries.

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