DWS acquires Grade-A logistics facility in Jurong
By Timothy Tay
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The real estate investment arm of DWS Group, a global asset manager, has acquired a Grade-A logistics facility in Jurong.
The development is at 11 Sunview Way and is close to the upcoming Tuas mega-port. The development is a four-storey, ramp-up industrial warehouse with ancillary office space and car parking. It has a floor area of over 403,000 sq ft.
The purpose-built building was completed in 2012 and serves as the Asia Pacific headquarters for the sole tenant, a global third-party logistics operator.
“Singapore’s industrial sector has shown resilience in periods of slow growth, thanks to growing ecommerce trends and changing demographics. These attributes reflect positively on quality logistics such as 11 Sunview Way despite the challenging environment,” says Lim Kian Fong, head of transactions, South East Asia, for DWS.
David Edwards, portfolio manager at DWS, says the acquisition is expected to deliver long-term stable cash returns for DWS investors, in line with its Asia core real estate strategy.
The acquisition of 11 Sunview Way is the third for the strategy. Last year, the asset manager purchased a logistics facility in Brisbane Australia, and another in Singapore.
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