- We visited many of Keppel Pacific Oak US REIT (SGX:CMOU)’s US office assets recently.
- Our key takeaway: The office market outlook is challenging but with a highly uneven impact – dependant on city, location, amenities, and building use. This is where we see Keppel Pacific Oak US REIT’s differentiation, as its US assets are mainly in better sub-markets and used primarily for R&D with limited tenant concentration risks.
- - Read this at SGinvestors.io -
Leasing demand mostly seen for smaller spaces…
- - Read this at SGinvestors.io -
- Expansion is seen in sectors such as healthcare and life sciences, and the technology, advertising, and media & information (TAMI) sectors – focusing on R&D. Other than this, larger leasing is mostly for purpose-built, relocations, and/or consolidations. Conversely, downsizing was seen across software technology, call centres, and services.
…amid a stiff on-going tug-of-war on return-to-office.
- Read more at SGinvestors.io.
