ESR-LOGOS REIT's maiden Japan acquisition achieves 100% occupancy
The REIT acquired the asset in 2022.
ESR-LOGOS REIT's Sakura Distribution Centre has achieved 100% occupancy, with the expansion of space requirements from an existing tenant.
The freehold five-storey modern logistics asset is the REIT's first acquisition in Japan. The REIT acquired the property in October 2022.
The asset completed in 2015 is located in the Northern part of the Chiba Prefecture in Tokyo and is situated between the Narita International Airport and Chiba Port.
Meanwhile, the REIT also reported that 7002 Ang Mo Kio Avenue 5 acquired a new tenant recently involved in an asset enhancement initiative (AEI). The addition of the new tenant brought the occupancy of the newly completed building to 62%.
The new tenant is a manufacturer of food service and airline equipment. The development involved in the AEI is a 25,000 sqm building suitable for advanced manufacturing, info-comm, and data centre tenants.