PETALING JAYA: Axis Real Estate Investment Trust
(Axis-REIT) is acquiring a fully occupied distribution centre in Bandar Saujana Putra, Selangor, from City-Link Express (M) Sdn Bhd for RM128mil cash.
Axis-REIT’s trustee, RHB Trustees Bhd, has entered into a sale and purchase agreement for the property, which comprises a distribution centre and ancillary buildings on two contiguous leasehold commercial land parcels with a combined area of about 46,776 sq m.
The facility has a lettable area of approximately 355,023 sq ft and currently serves as one of City-Link Express’ distribution hubs.
The acquisition is expected to be completed in the fourth quarter of 2026. Upon completion, City-Link Express will lease back the property under a 15-year arrangement, providing Axis-REIT with an initial monthly rental income of RM661,878, subject to periodic rental escalations.
