SHANGHAI-Beijing-based SOHO China Ltd. has closed on its planned $500 million purchase of the 1.1-million-square-foot Shanghai New World Changning Commercial Center here. The seller was Shanghai Trio Property Development Co. Ltd., which built the office tower last year.
The building, at Zhongshan West Road in the Changning District, includes a 136,000 square feet of retail. The buyer has changed the name of the building to SOHO Zhongshan Plaza. Savills China represented the buyer in the transaction.
The acquisition of SOHO Zhongshan Plaza project represents the continuation of SOHO China
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