25 Mar '11, 3pm

[CNA] MapletreeLog acquires property in Japan

SINGAPORE : Mapletree Logistics Trust (MapletreeLog) said that it has acquired a property in the Chugoku region in western Japan for S$114.2 million. It said in a statement that the Hiroshima Centre consists of two buildings - a two-storey warehouse for cold or frozen storage and a two-storey dry warehouse with an ancillary office. The combined total gross floor area of both buildings is about 43,600 square metres, making it a major logistics facility. The property is currently leased to Nippon Access Group with a remaining period of 16 years on the lease and a rental review after every five years. Nippon Access is a major food distribution company in Japan and an existing customer of MapletreeLog, taking up about 87,700 square metres of space. With this acquisition, Nippon Access will take up about 131,300 square metres of space and contribute about 4.3 per cent to Maplet...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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