CapitaLand Investment Limited (CLI), a global real asset manager, announced that Extra Space Asia (ESA), its self-storage platform, is investing nearly S$100 million ($77 million) in its first build-to-suit flagship development in Singapore and acquiring three freehold self-storage facilities in Tokyo.
ESA has acquired a land parcel at Kaki Bukit Avenue 5 to develop a 185,000-square-foot facility — Singapore’s first self-storage facility set to achieve ‘Green Mark Super Low Energy Building’ certification. This marks the first industrial government land sale awarded by the Jurong Town Corp. for self-storage use. Upon completion, ESA’s Singapore portfolio will grow to 13 high-quality properties islandwide with more than 1.5 million square feet of gross floor area.
ESA has acquired three operating self-storage facilities in Tokyo’s 23 Wards, the city’s core urban area, expanding its Japan portfolio to 17 facilities totaling more than 60,000 square feet of GF
