SM Land, Emerson Electric sign lease agreement

Posted at 04/23/13 4:15 PM

MANILA -- SM Land has inked an agreement to lease half or more than 12,000 square meters of SM Cyber West Avenue to Emerson Electric (Asia) Ltd. ROHQ.

"The lease contract facilitates Emerson Electric (Asia) Ltd. – ROHQ’s headquarters expansion from Mandaluyong City to SM Cyber West Avenue," SM Land said in a statement.

Emerson Electric is a unit of technology global giant Emerson, which saw its sales hit $24.4 billion for its fiscal year 2012.

SM Cyber West Avenue, located in Quezon City, is an office building expected to be completed by the fourth quarter of this year. The project's cost has been pegged at P1.05 billion.

It will be a 15-level structure with 22,700 sqm for office space, bringing the gross floor area to 42,000 sqm.