SINGAPORE (June 25): Google Asia Pacific will soon be a new tenant at Alexandra Technopark, says the manager of Frasers Commercial Trust (FCOT).

Frasers Commercial Asset Management, in its capacity as manager of Frasers Commercial Trust (FCOT) says British and Malayan Trustees, as trustee of FCOT, on Tuesday entered into an agreement with the social media giant to lease space at the property.

Under the terms of the lease, Google will take up around 344,100 sf of space, representing approximately 33.3% of the current total net lettable area of the property, for a term of five years starting in the first quarter of 2020.

“The average gross rent for the term is comparable to recent signing rents for the property,” says FCOT.

Including the lease, the committed occupancy rate for Alexandra Technopark is 93.7%.

Units in FCOT last traded at $1.58 on Tuesday.