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Kore’s focus on US suburbs could pay off amid Fortune 500 exodus from traditional gateway cities

Jude Chan

Jude Chan

Published Fri, Jun 30, 2023 · 05:00 AM
    • The upgrading and addition of amenities such as in-house cafes, gyms and conference facilities have helped Keppel Pacific Oak US Reit outperform its peers, analysts say.
    • The upgrading and addition of amenities such as in-house cafes, gyms and conference facilities have helped Keppel Pacific Oak US Reit outperform its peers, analysts say. PHOTO: KEPPEL PACIFIC OAK US REIT

    FROM the window of a suite in Keppel Pacific Oak US Reit’s (Kore) One Twenty Five office asset in Dallas, a familiar brand name can be seen emblazoned on a building a block away: Caterpillar.

    The construction equipment manufacturer in June last year announced the move of its global headquarters from Deerfield in Illinois, to Dallas-Fort Worth in Texas.

    In a statement, Caterpillar chairman and chief executive Jim Umpleby described the move as being “in the best strategic interest” of the company as it seeks “profitable growth”.

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