Archive For The “Commercial Real Estate” Category

Shinjuku office vacancy rate drops to 1% range

Shinjuku office vacancy rate drops to 1% range

The office vacancy rate across Tokyo’s five central business districts of Chiyoda, Chuo, Minato, Shinjuku and Shibuya dropped to 3.22% in July, down 0.04 points from June and down 0.72 points from July 2016. This is close to the record low of of 3.03% reported in April 2008 and down from a high of 9.43%…

Shiba Park Building returns to the market

Shiba Park Building returns to the market

Shiba Park Building, a landmark office building in central Tokyo, is being offered for sale again, with insiders suggesting it could sell for more than 160 billion Yen (1.3 billion USD). The 14-storey building has a total floor area of 103,000 sqm (1.1 million sq.ft), of which 83,000 sqm is leasable space. It was built…

Brand new retail/commercial building for sale in Shibuya

Brand new retail/commercial building for sale in Shibuya

SOLD Gross yield: – Occupancy: – *Update: This property is no longer available* This is a brand new retail building for sale in Shibuya offering immediate cash flow. The 3-storey concrete building was completed in September 2015 and is fully leased to a sub-leasing company for 1,389,710 Yen per month. The sale is for the tenanted building…

Chiyoda ofice building converted to serviced apartments and office suites

Chiyoda ofice building converted to serviced apartments and office suites

NTT Urban Development have converted a 22-year old office building in Chiyoda-ku into a mixed-use serviced apartment, share office and serviced office space. ‘Hive Tokyo’ (formerly Pacific Square Kudan Minami) is targeted towards both Japanese and foreign clients. The 10-storey building is located across the street from the Yasukuni Shrine and a 6 minute walk…

Otemachi 2 Chome Project expected to sell for 200 billion Yen

Otemachi 2 Chome Project expected to sell for 200 billion Yen

The Japanese government is redeveloping a state-owned site in the Otemachi district near Tokyo Station. The Urban Renaissance Agency, a semipublic housing company, will build a two office towers which will then be sold to a real estate company or fund once it has been filled with tenants. The sale price is expected to be…

600 billion Yen project announced for Yaesu

600 billion Yen project announced for Yaesu

Mitsui Fudosan and Tokyo Tatemono have plans for a 600 billion Yen (5 billion USD) redevelopment on the eastern side of Tokyo Station. Two buildings up to 250 meters tall will be built in the Yaesu 1 and 2 Chome districts. The developers are considering including residential, retail, education, cultural and medical facilities with English-speaking staff…

Office vacancy rates in July 2014 – Miki Shoji

Office vacancy rates in July 2014 – Miki Shoji

According to Miki Shoji’s office report, the office vacancy rate in Tokyo’s five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 6.20% in July, down 0.25 points from the previous month and down 2.09 points from last year. This is the lowest level seen since March 2009 when vacancy rates were 6.05%. The…

Mitsubishi Jisho to start renovating old office buildings

Mitsubishi Jisho to start renovating old office buildings

Mitsubishi Jisho Residence announced that they are entering the building renovation business. With the cooperation of their subsidiary MEC eco LIFE Co. as well as Real Tokyo Estate, Mitsubishi plan to rent entire buildings from owners, carry out refurbishments, including earthquake-retrofitting, and then offer the newly made-over spaces for rent. The owners of older office…

Shoto Noh Theatre may be on the market

Shoto Noh Theatre may be on the market

The owners of the Kanze Noh Theatre in Shoto, Shibuya, are looking into selling the building and land. The head of Yodobashi Camera is a possible buyer, having reportedly expressed an interest to redevelop the property into a private guest house to accommodate his foreign visitors.

Pembroke to redevelop site opposite Tokyo Midtown

Pembroke to redevelop site opposite Tokyo Midtown

Pembroke Real Estate will soon be embarking on their first redevelopment project in Japan – a 14-storey retail/commercial building in Roppongi 7 Chome. The site is in a prime position alongside Gaien-Higashi Dori Avenue and directly across from Tokyo Midtown. The 4,000 sqm development site was originally several smaller parcels of land. Pembroke began purchasing…

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