Ascendas India Trust to build and acquire warehouse in Panvel for $42.1 mil

SINGAPORE (July 11): The trustee-manager of Ascendas India Trust (a-iTrust) has entered into a construction funding and forward purchase agreement with a subsidiary of Arshiya, to develop an additional warehouse at the Arshiya Free Trade Warehousing Zone (FTWZ) in Panvel.

The warehouse has a total leasable area of 325,503 sq ft and will be acquired by a-iTrust upon completion and leasing.

Why a data centre at 7 Tai Seng Drive makes 'perfect sense' for Mapletree Industrial: DBS

SINGAPORE (Apr 30): DBS Vickers Securities is maintaining its “buy” call on Mapletree Industrial Trust (MIT) with a target price of $2.22, which has yet to price in the REIT’s potential acquisition of a warehouse at 7 Tai Seng Drive for $68 million from Mapletree Logistics Trust (MLT).

In a Monday report, DBS lead analyst Derek Tan highlights that the property was valued at $69 million by independent valuers Cushman & Wakefield and Savills, which was notably higher than the valuation of $36.1 million on MLT’s books.

AA REIT secures first tenant for newly-completed Tuas redevelopment

SINGAPORE (Sept 4): The manager of AIMS AMP Capital Industrial REIT says it has secured its first tenant, whose business is in the aerospace industry, for its newly-completed redevelopment located at 8 Tuas Avenue 20.

8 Tuas Avenue 20 is a three-storey contemporary industrial facility suitable for production and warehouse usage, located near the junction of Pioneer Road and within walking distance to the Tuas West Road MRT station, which has been operational since June this year.

It recently achieved temporary occupation permit (TOP) on Aug 29.

Ascendas REIT to divest 10 Woodlands Link for $19.3 mil

SINGAPORE (May 31): The manager and trustee of Ascendas REIT (A-REIT) have entered into a sale and purchase agreement with Sengkang Import & Export for the sale of 10 Woodlands Link for $19.28 million.

The property is a light industrial building located within the Woodlands East Industrial Estate, with a remaining land lease tenure of about 38.7 years. Comprising a three-storey warehouse, the property is 19.2 years old, and has a gross floor area (GFA) of 11,537 sq m.

Cache Logistics to sell Changi North Way property for $26 mil

SINGAPORE (Dec 19): Cache Logistics Trust is divesting Cache Changi Districentre 3 to Agility International Logistics for $25.5 million.

Located at 6 Changi North Way, the property is a multi-tenanted, two storey ramp-up warehouse with a gross floor area of 177,000 sq ft and a remaining lease of 17 years.

Agility is a current tenant within the property.

The transaction remains subject to approval by JTC Corporation, which is expected to be received by end-December.

Viva Industrial Trust to acquire 6 Chin Bee Avenue for up to $97 mil

SINGAPORE (Oct 27): Viva Industrial Trust (VIT) has entered into an agreement with Sharikat National to acquire 6 Chin Bee Avenue, a newly completed five-storey ramp-up logistics warehouse.

The property comprises of five levels of high-specifications logistics facilities including two levels of cold room facilities, one level of ambient temperature food storage, and a mezzanine level on each warehouse floor for storage, kitchen, ancillary showrooms and offices.

Global Logistic Properties signs new leases powered by e-commerce

SINGAPORE (Oct 18): Global Logistic Properties (GLP) announced that it has signed 2.3 million sf of new leases in China, US and Japan to e-commerce related companies.

In China, 1.6 million sf of new leases has been signed with four third-party logistics providers serving an e-commerce platform. In the US, 589,000 sf of new and renewed leases has been signed with a global e-commerce company. In Japan, a new lease for 108,000 sf has been signed with a software company for online sales.

How courier startup Roadbull is charging ahead

SINGAPORE (Aug 26): Entrepreneurship was always “the end game” for 33-year-old Alwin Liang, founder and CEO of Roadbull, one of Singapore’s newest courier delivery companies.

Roadbull, whose name was inspired by the Formula One racing team Redbull, is Liang’s answer to what he thinks are inefficient courier services in Singapore.

Liang believes the company’s competitive edge lies in the following:

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