Frasers Logistics & Industrial Trust announced on 30 June that it has completed the development of the CEVA Logistics property located at Doriemus Drive in Truganina, Victoria, with tenancy and rent payable commencing on the same day.
The property has been completed ahead of its target completion date of July 2016 as originally stated in the Singapore-listed industrial REIT’s IPO prospectus and is now fully pre-committed to CEVA Logistics.
Frasers Logistics & Industrial Trust’s manager also added that the property’s final actual gross lettable area is now 74,546 square metres, an additional 111 square metres over the planned GLA of 74,435 square metres as stated in the prospectus.
The property’s weighted average lease expiry (WALE) by adjusted gross rental income is 10 years as of 30 June 2016 .
Units of Frasers Logistics & Industrial Trust finished about 1% higher from its previous close on the Singapore Exchange to end at SGD0.95.