MANILA (April 23, 2013) -- SM Land, the commercial property development and management arm of SM Investments Corporation (SMIC) recently signed a lease contract with Emerson Electric (Asia) Ltd. – ROHQ, part of U.S.-based Emerson , a FORTUNE 500 company, to lease half, or more than 12,000 sqm of SM Cyber West Avenue, a standalone office building development to rise in Quezon City.
Primarily targeted for business process outsourcing or BPO companies, the West Avenue location is an addition to the growing series of build-to-suit urban office developments by SM Land Commercial Properties Group dubbed “SM Cyber” buildings, which primarily provide premium office building space in prime locations. These prime locations usually leverage nearby SM retail and mall developments.
The lease contract facilitates Emerson Electric (Asia) Ltd. – ROHQ’s headquarters expansion from Mandaluyong City to SM Cyber West Avenue. As part of Emerson, the Manila organization provides support for several key global and regional functions for the company such as accounting, customer support, finance, information technology, human resources, marketing and supply chain management. Emerson is a diversified global manufacturing and technology company that offers a wide range of innovative products, solutions and services that help deliver productivity and efficiency to industrial, commercial and consumer markets worldwide. The company’s annual sales globally in 2012 were US $24.4 billion.
SM Cyber West Avenue is a 15-level structure that will cover more than 42,000 sqm of GFA, and around 22,700 sqm of GLA for office space. The building features a 5.2 sqm per person load density, ample parking space located at the 2nd up to the 5th floors, VRV air conditioning system for flexibility in tenant’s operating hours, 100% back-up power, 24/7 security system, and a 1,000 sqm roof deck garden. The building will rise on a highly visible 2,910 sqm property at the corner of the main EDSA thoroughfare and West Avenue. It is also bounded by an interior village road Bulacan Street. The remaining leasable area, mostly found in the ground and second levels, will feature a Save More supermarket and other support retail and commercial establishments. Additionally, the building will be linked via bridgeways to the SM North EDSA Mall as well as nearby MRT stations.
The project is targeted for completion by the 4th quarter of 2013 and has an estimated project cost of Php1.05 billion.
Present during the contract signing were (L-R) SM Land’s President, Mr. Henry T. Sy, Jr, SM Land’s SVP for Commercial Properties, David L. Rafael; and Emerson executives, George R. Mulligan, General Manager, Rusty Lamboley, Vice president and General counsel for Asia-Pacific and Anthony M. Tamayo, Country Security Manager.
About SM Land
SM Land through its Commercial Properties Group (CPG) primarily handles the development and leasing of office buildings in prime Metro Manila and strategic regional locations, as well as the operations and property management of such buildings and properties.
SM Land CPG’s flagship project is the Mall of Asia Complex (MOAC) in Pasay City, a 67-hectare master planned bayside development with the renowned SM Mall of Asia as its anchor tenant and main attraction, among other commercial, business, and entertainment establishments within the estate. MOAC is also the site of CPG’s signature business complex, the E-comCenters—a series of modern and iconic office buildings mostly targeting technology-based industries and business process outsourcing (BPO) companies. With the success of OneE-com and TwoE-com, SM Land CPG started construction of ThreeE-comCenter and is scheduled for completion in the first quarter of 2015.
Other similar office building developments catering to the BPO industry include the SM Cyber Buildings—a mix of built-to-suit and ready-to-use office spaces in Makati City, Baguio City, and soon the SM Cyber West Avenue in Quezon City which is currently under construction and scheduled for handover in the first quarter of 2014.
Other developments in the portfolio of SM Land CPG include a pioneering mixed-use leisure and commercial concept along Aguinaldo Highway in Tagaytay City called “Sky Ranch” to be launched in May 2013.
For further information, please contact:
April Anne S. Misa
SM Land, Inc.
Tel. No. +63 2 857-0100 loc 0353
Tuesday, April 23, 2013