Mapletree Logistics Trust (SGX:M44U) signed an option agreement with CS Ceramiche for the proposed divestment of 39 Changi South Avenue 2 in Singapore for SG$16.6 million, according to a Wednesday filing with the Singapore bourse.

The property is a three-story cargo lift warehouse with an ancillary office and has a net lettable area of around 6,129 square meters.

The divestment is expected to be concluded during the third quarter of the year.