ESR-LOGOS REIT (E-LOG), on Oct 27, announced that ESR Sakura Distribution Centre has achieved 100% occupancy with the expansion of space requirement from an existing tenant. The distribution centre is the REIT’s maiden Japan acquisition.
ESR Sakura Distribution Centre is a freehold five-storey modern logistics asset in Sakura City within the Northern part of the Chiba Prefecture in Tokyo. The building, which was completed in 2015, was acquired the REIT in October 2022.
At the same time, the REIT has welcomed a new tenant for 7002 Ang Mo Kio Avenue 5, which recently undertook an asset enhancement initiative (AEI). The new tenant brings the building’s occupancy to 62%. 7002 Ang Mo Kio Avenue 5 obtained its temporary occupation permit (TOP) on Sept 8.
“We are delighted to announce that an existing tenant has expanded their operations within ESR Sakura DC, our maiden acquisition in Japan, leading to 100% occupancy at the facility. In addition, our newly completed building at 7002 Ang Mo Kio Avenue 5 continues to demonstrate strong leasing traction as its occupancy increased to 62% within two months of obtaining TOP,” says Adrian Chui, CEO and executive director of the manager.
Units in E-LOG closed 0.5 cents lower or 1.96% down at 25 cents on Oct 26.
