Under the terms of the lease, Google will take up around 344,100 sf of space, representing approximately 33.3% of the current total net lettable area of the property, for a term of five years starting in the first quarter of 2020.
“The average gross rent for the term is comparable to recent signing rents for the property,” says FCOT.
Including the lease, the committed occupancy rate for Alexandra Technopark is 93.7%.
Units in FCOT last traded at $1.58 on Tuesday.
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