In a sign that US economic recovery is well underway, Manulife US REIT (MUST) saw 270,000 square feet of leases since in the 1QFY2021 ended March, equalling that of its entire FY2020. 

“The bulk of leasing demand came from renewals, mainly from the finance and insurance, administrative, advertising, and legal sectors. MUST has 4.4% of its gross rental income to be renewed in the remainder of FY2021F and another 13% in FY2022F,” report Lock Mun Yee and Eing Kar Mei, analysts at CGS-CIMB. 

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