Mapletree Industrial Fund has bought an industrial property from First Engineering Plastics for nearly S$22 million.
The property comprises three buildings with a gross floor area of 14,387 square metres. The land, which spans more than 10,000 square metres, is located in the established Woodlands East Industrial Estate.
First Engineering Plastics will lease back the premises following the sale.
The company makes high-precision moulds, plastic components and business machines for high-technology engineering applications.
It also offers an integrated suite of solutions for the hard disk drive, PC peripheral and automotive industries. - CNA/ms
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