The manager of ESR-LOGOS REIT (E-LOG), announced on Sept 1, that AMS-OSRAM Asia Pacific, one of the REIT’s top ten tenants, has renewed its tenancy at 7000 Ang Mo Kio Avenue 5.
AMS-OSRAM as the largest anchor tenant at the property, occupies about 46,220 sq m or 60.7% of the property by net lettable area (NLA). The property remains the largest site office of AMS-OSRAM in Singapore and is also the headquarters for its manufacturing and business operations.
AMS-OSRAM has renewed its lease for the production area and the office units for a five-year and two-year term, respectively. This renewal achieved a positive rental reversion of 12.9%.
With that, AMS-OSRAM will remain as one of the top ten tenants by effective gross rent in E-LOG’s portfolio.
“With the ongoing development of a new modernised building at the property, we envisage 7000 Ang Mo Kio becoming an iconic high-specs property of choice for industrialists in the advanced manufacturing and data centre sectors,” says Adrian Chui, chief executive officer and executive director of E-LOG.
Shares in E-LOG closed at 0.5 cents down or 1.22% lower at 40 cents on Sep 1.
