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CBRE, JLL commence expression of interest process for Singapore building

CBRE Group Inc. and JLL launched an expression of interest exercise for the stand-alone building at 139 Cecil St. in Singapore's central business district on behalf of the property's owner.

The property with a net lettable area of approximately 85,000 square feet comprises 16 stories of office space and a ground-floor restaurant. It is fully occupied by Hong Kong-based coworking space provider Campfire Collaborative Spaces under a leasing deal that has an initial term of six years.

The expression of interest for the building is slated to close April 17, according to the marketing agents.

The former 11-story building that occupies a roughly 7,936-square-foot commercial site was taken to the market in April 2017 with an indicative price of S$210 million.

As of March 12, US$1 was equivalent to S$1.36.