The completion of the deal is slated for the first quarter of 2025.
Following this, DHL USA will enter a long-term leaseback of about 11 years till December 2035 of the property's entire gross floor area (GFA) of about 979,649 sq ft.
The agreement will come with options to renew for two additional five-year terms.
On Dec 17, Clar's manager said this would represent the real estate investment trust's (Reit) first sale-and-leaseback acquisition in the US.
Its executive director and chief executive William Tay said the acquisition would increase Clar's US logistics portfolio value by 35.3 per cent to $587.5 million, with a total estimated GFA of 5.1 million sq ft.
Diese Geschichte stammt aus der December 18, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 18, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Neta Aya Shows How Difficult It Is To Get A Car Right
The Chinese electric vehicle gets some things right, but needs work on other areas for it to be taken seriously
Goh Beng Kwan gets festive with hongbao-inspired art
The pioneer artist has teamed up with furniture brand Commune to stage his latest showcase
Second monsoon surge forecast to be shorter, less intense
More flash flooding could occur in coastal areas with higher tides expected this time
Polys and ITE to help SMEs with AI-powered solutions to problems
To see if a firm's employees would fall victim to scam calls, cyber-security officers can upload the phone numbers of their co-workers onto an app and track how they respond.
BYD makes great leap forward with Sealion 7
The electric vehicle from the Chinese carmaker feels spacious and luxurious, with an attractive price tag to boot
Designing smooth rides for Singaporeans
Drawn to problem-solving, this LTA scholar puts his technical skills to work for millions of commuters
SPAS TO FIGHT FESTIVE FATIGUE
In just a few short weeks, families in Singapore who decked the halls with Christmas finery had to swop faux fir trees for auspicious Chinese New Year kumquat potted s trees.
China's Grand Canal Plans
Construction of the Pinglu Canal, the first major waterway to be built in China since 1949, is under way in Guangxi region. Officials hope that the canal will boost exports from south-western China and be a blueprint for other canal projects. But are such projects likely to inject new life into the economy or construction for construction's sake?
Prosecutions driven by justice, not politics: Outgoing US A-G
US Attorney-General Merrick Garland defended the Justice Department on Jan. 16 against what he called unfounded attacks and said prosecutions under his leadership were driven by \"justice, not politics.\"
How does it feel to play Alcaraz? A rival explains
\"I feel like I got no air to breathe.\"
