[Edaily Marketin KIM SUNG-SOO Reporter] Transaction patterns in the Pangyo office market are changing. While large-scale transactions involving the purchase or sale of entire buildings continue, there are also emerging cases where companies are acquiring only a portion of a building for their own use.

As Pangyo’s office market continues to attract interest from investors and companies due to its low vacancy rate, the types of transactions are gradually diversifying.

A Series of Deals Involving GB-I and i-Square, Among Others

According to the real estate industry on the 18th, the Pangyo area has recently seen

a series of

large-scale office transactions involving institutional investors, alongside a string of purchases by corporations.

A representative transaction in Pangyo during the first half of this year was GB-I, located in Pangyo Techno Valley No. 1. GB-I is a property located at 19 Pangyo-ro 256beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, comprising four basement levels and 11 above-ground floors, with a total floor area of 39,083 square meters (11,823 pyeong).

Global real estate investment firm Bental Green Oak (BGO) recently sold GB-I to Kyobo AIM Asset Management for approximately 306.6 billion won. Jones Lang LaSalle (JLL) acted as the lead advisor for the sale, and the deal closed in July.

Nexon Korea currently occupies the entire building as its headquarters. It is understood that the fact the asset has secured stable tenant demand—as Nexon Korea recently extended its lease agreement—also influenced the transaction.

Additionally, the first large-scale office transaction took place in Pangyo Techno Valley 2.

Aegis Asset Management sold Building E of Ice Square, located in Pangyo Second Techno Valley, to its subsidiary, Aegis X Asset Management, for 111.9 billion won. Pangyo Ice Square Building E is an office building with a total floor area of approximately 21,355 square meters (6,460 pyeong), located at 17 E, Changup-ro, Sujeong-gu, Seongnam-si, Gyeonggi-do.

The transaction was conducted via a “share deal”—a method involving the transfer of fund shares—rather than the traditional approach of buying and selling the building itself. Unlike an “asset deal,” where both parties directly buy and sell the physical building, a share deal involves only a change in the fund’s beneficiaries. It offers the advantages of exemption from real estate acquisition tax and simplified transaction procedures.

The fact that transactions in Pangyo Second Techno Valley have gained momentum this year is partly due to the lifting of resale restrictions on major assets.

While Pangyo Techno Valley No. 1 was subject to a 10-year resale restriction following completion, the restriction period for Techno Valley No. 2 is relatively short at five years. Consequently, with the number of assets available for sale increasing significantly starting this year, there is growing speculation that transactions will become even more active in the future.

Low Vacancy Rates Attract Interest from Institutions and Companies

In Pangyo, activity is noticeable not only among institutional investors but also among companies with actual demand. In addition to large-scale transactions where institutional investors purchase entire buildings, various forms of office transactions are emerging, including cases where companies acquire partial space to expand their existing headquarters.

Everybot, a company specializing in AI service robots, sold a single floor in Building S of H-Square in Pangyo Techno Valley 1 to Silicon2, a cosmetics distribution platform company.

Silicon2 already uses another floor in the same building as

. In effect, the company has expanded its office space by securing additional space while retaining its existing headquarters.

Additionally, global design consulting firm InnoDesign sold a portion of the space in the U-Space 1 building, located in Techno Valley No. 1, to IronDevice. IronDevice is currently headquartered in Sinsa-dong, Gangnam-gu, and is reported to have acquired the space to secure additional office space.

IronDevice is a fabless company specializing in mixed-signal system-on-chip (SoC) solutions that integrate analog, digital, and power technologies onto a single chip.

The relatively low vacancy rate is cited as a key reason why Pangyo office space is attracting investor interest. In the current office market, the ability to secure tenants is a critical factor in asset value.

Pangyo is home to a high concentration of companies in sectors such as information technology (IT), gaming, platforms, and biotechnology, and with continued demand from firms using Pangyo as their operational hub, the office vacancy burden is considered relatively low.

In particular, as the lifting of resale restrictions in Pangyo Techno Valley No. 2 gains momentum, the number of properties available for transaction is expected to increase further. With investors’ options expanding to include Techno Valley No. 2 following Techno Valley No. 1, the transaction base of the Pangyo office market is also expected to broaden.

A commercial real estate industry official stated, “Pangyo is a market attracting interest from both institutional investors and corporations, as it has relatively low vacancy rates and steady demand from companies,” adding, “Various types of transactions are taking place, including not only large-scale assets but also transactions for specific areas resulting from corporate headquarters expansions.”