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JLL has launched an expression of interest (EOI) exercise for Big Box, an eight-storey warehouse mall in Jurong East, reported the Business Times.
The EOI exercise follows a voluntary liquidation of Big Box Pte Ltd that was initiated in September 2018 as well as the approval of a credit restructuring scheme for TT International, which holds a 51 percent stake in Big Box Pte Ltd.
Built in 2014, the mall sits on a 606,639 sq ft site which has a remaining lease of 18 years, and has a total gross floor area of around 1.4 million sq ft. It was originally used as part of a warehouse retail scheme.
Today, the property is approved for Business 1 industrial usage and is being offered with mostly vacant possession. It comes with 1,726 car park lots as well as ancillary container lots and lorry parking.
It is interconnected to nearby buildings like JEM as well as to Jurong East MRT via underground walkways.
JLL noted that corporations with e-commerce and technology platforms, third party service providers and large scale logistics operators interested in the site can immediately ramp up operations there as the area is set to benefit from its proximity to the Jurong Lake District and Jurong Port.
The EOI exercise for Big Box will close on 23 May.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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