CEVA Logistics renews lease for Greenwich Drive property

The company extended its occupancy of 74.2% of the property.

CEVA Logistics Singapore Pre. Ltd. renewed its lease for a property at 15 Greenwich Drive within Tampines LogisPark at a positive rental reversion of 20% for a three-year term. With the renewal, the company remained one of ESR-LOGOS REIT's top 20 tenants by effective gross rent.

The company occupied 31,230 square metres or 74.2% of the 42,307-square-metre property.

The property has a 4-storey ramp-up warehouse building with air-conditioned ancillary offices on the mezzanine levels.

Adrian Chui, ESR-LOGOS REIT's CEO and Executive Director, said the 20% positive rental reversion from CEVA Logistic's lease renewal demonstrated the continued resilience and growth in Singapore's logistics sector.