New office building CapitaGreen secures three new tenants
CapitaGreen, the newest 40-storey Grade A office building in Singapore’s central business district (CBD), has secured its first three tenants.
Commodities trading giant Cargill has signed on for 51,000 sq ft, and the Singapore unit of Swiss private bank Bordier & Cie is leasing more than 12,000 sq ft.
The third tenant will be an international gym operator which plans to launch a new club and lifestyle concept at CapitaGreen, with 18,000 sq ft, said the development’s joint venture partners – CapitaLand, CapitaCommercial Trust and Mitsubishi Estate Asia – on Tuesday.
The building’s total net lettable area is 700,000 sq ft. About 81,000 sq ft or 12 per cent of the building has been pre-committed to these three tenants.
CapitaGreen, which is at 138 Market Street, is near Raffles Place and Telok Ayer MRT stations. It is slated to be completed by the end of this year and will be the only new Grade A office building in the CBD this year.
Ms Lynette Leong, chief executive of CapitaCommercial Trust Management, said that the office market’s limited new supply will mean that CapitaGreen will be able to “ride on the momentum generated by this first round of pre-commitments to attract more quality tenants”.
She added: “We are in discussions with other prospects and are optimistic to progressively achieve 50 per cent pre-commitment by the end of this year.”
The Business Times – April 16, 2014