In further signs of recovery in the US office market, Manulife US REIT (MUST) has secured the tenancy of a major logistics and shipping company at 10 Exchange Place.

The tenancy features a lease term that exceeds the 3Q 2021 market weighted average lease expiry (WALE) of 7.7 years for similar asset types, the REIT confirmed recently in response to questions from REITsWeek.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.