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Cache Logistics Trust secures new major tenant to lease over 300,000 sq ft of space in Commodity Hub
Cache Logistics Trust’s manager announced on Tuesday that it has secured a new major tenant to lease over 300,000 square feet of space in Commodity Hub located at 24 Penjuru Road, Singapore.
The undisclosed tenant is said to be an established global technology, defence and engineering company headquartered in Singapore. It is now among the list of Cache’s top ten tenants by portfolio gross rental income.
Daniel Cerf, CEO of the Manager, said that with the inking of the new tenancy, it has secured 1,112,100 sq ft of leases and renewals in 2019. The present committed portfolio occupancy is 93.2 per cent.
“We continue to be committed to executing our strategy to improve organic growth where possible with a view to generate long-term sustainable returns and value for our unitholders,” he added.
As at 30 June 2019, Cache’s portfolio comprised 27 high quality logistics warehouse properties strategically located in established logistics clusters in Singapore and Australia. The portfolio has a total gross floor area of approximately 9.0 million square feet valued at approximately S$1.31 billion.