LOGOS, a logistics company backed by ARA Asset Management, has partnered with Singapore-listed CSC Holdings to redevelop 2 Tanjong Penjuru Crescent into a modern ramp-up warehouse for an estimated total development cost of S$108 million ($76 million).
The redevelopment will draw on part of Logos’s newest Singapore fund, the Singapore Logistics Venture 2, which recently closed with an investment capacity of S$1.2 billion ($850 million) for the acquisition and development of modern logistics properties in Singapore.
The existing four-story industrial property will be redeveloped into a 46,000-square-meter (495,000-square-foot), six-story ramp-up logistics facility with office space, a cafeteria and roof-top parking.
The completion is expected by the end of fourth quarter 2021.
