Cambridge acquiring asset in business park

Singapore

CAMBRIDGE Industrial Trust is acquiring a property in Singapore's pioneer business park for S$28 million. This is the industrial real estate investment trust's first asset in a business park.

Situated at 16 International Business Park in Jurong East, the property is a three-storey purpose-built building with a mezzanine and a basement carpark. It has a gross floor area of some 6,434 square metres and a remaining land tenure of about 41.6 years and is near the Jurong Gateway commercial hub.