SGX-listed AIMS APAC REIT has agreed to buy a four-story warehouse in western Singapore’s Jurong district for S$129.6 million ($94.4 million).
The property is a master-tenanted four-story ramp-up logistics facility, with an ancillary office on each level. The facility is situated on a land area of 34,095 square meters (367,000 square feet), which has a remaining land tenure of approximately 22.2 years (as of June 30, 2020), with a gross floor area of 68,190 square meters (734,000 square feet).
The property is strategically located in the Jurong West Logistics Cluster, within the Jurong Innovation District. The Jurong Innovation District is part of the Singapore government’s plan to develop a one-stop 600-hectare advanced manufacturing campus, hosting businesses involved in prototyping and test-bedding, production and distribution, technology, research and education. The first phase of the Singapore government’s development of the Jurong West area is due to be com
