ESR-LOGOS Funds Management (S), manager of ESR-LOGOS REIT (SGX:J91U), disclosed the opening of NTS Singapore's new regional hub at 21B Senoko Loop, according to a Monday filing on the Singapore Exchange.
The facility, developed through a built-to-suit project, officially opened on Sept. 20.
The redevelopment converted an older industrial property into a modern facility that meets current industry specifications. The project achieved Temporary Occupation Permit (TOP) status in the first quarter of 2024 and has received Green Mark Gold certification for sustainability.
Under a 15-year lease agreement, NTS will occupy the property on a triple net basis, with built-in annual rental escalations. This arrangement is designed to provide a stable income for ESR-LOGOS REIT while accommodating NTS' operational needs.
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