Singapore-listed industrial REIT, Cache Logistics Trust, has secured a major tenant for its property at 24 Penjuru Road.

Over 300,000 square feet at the property, which is also known as Commodity Hub, has been successfully leased out to the tenant.

The new tenant has been described as an established global technology, defence and engineering company headquartered in Singapore.

This tenant is also now on Cache Logistics Trust’s list of top ten tenants by portfolio gross rental income.

“Our successful marketing and leasing efforts continue to reflect our determination to maintain high occupancy”, said Daniel Cerf, CEO of the REIT’s manager.

“With the inking of this new tenancy, management has secured 1,112,100 square feet of leases and renewals in 2019”, he added.

With the new tenancy secured, Cache Logistics Trust’s occupancy level has now increased to 93.2%, as updated in the Singapore REITs fundamentals table.

Cache Logistics Trust was last done on the Singapore Exchange at SGD0.72