Archive For The “Office/Retail News & Information” Category

Japan’s supply of new office space hits lowest level since 1980

Japan’s supply of new office space hits lowest level since 1980

According to the Japan Real Estate Institute, 1.35 million square meters (approx. 14.5 million sq ft) of new office space was supplied across the country in 2016, down 25% from 2016 and the lowest level seen since 1980. 84% of the new supply was centered in Tokyo’s 23 wards. Sapporo, Sendai, Saitama, Kyoto and Kobe…

Tokyo Midtown Hibiya to open in March 2018

Tokyo Midtown Hibiya to open in March 2018

On September 4, Mitsui Fudosan announced that the official name of the large-scale redevelopment opposite Hibiya Park in downtown Tokyo will be Tokyo Midtown Hibiya. The 191m tall building will include office space, the 2,300 seat TOHO Cinemas Hibiya, and 60 stores and restaurants. The grand opening is scheduled for March 29, 2018.

Onsen and retail complex near new Toyosu Fish Market in jeopardy

Onsen and retail complex near new Toyosu Fish Market in jeopardy

The operator of a planned onsen, hotel and retail center to be built next-door to the Toyosu Fish Market in Tokyo has announced that they may withdraw their plans due to concerns about feasibility. The proposed ‘Senkaku-banrai’ center would include a 24hr hot spring bath, hotel and 200 restaurants and stores, with a forecast for…

REIT acquisitions exceed rosenka values by 2.61 times

The average value of real estate acquisitions made by J-REITs between 2012 and 2017 has exceeded the rosenka tax value by approximately 2.61 times. In 2016 and 2017, office buildings and hotels in central Tokyo, Osaka, Nagoya and around Narita Airport have been purchased by REITS at as much as 5 ~ 15 times their…

Hublot moves into historic machiya in Gion, Kyoto

Hublot moves into historic machiya in Gion, Kyoto

Swiss watch brand Hublot will be opening up a boutique in an old machiya-style townhouse in Kyoto’s famous Gion district on August 26. The previous tenant was Hermes. The shop will feature custom Japanese washi paper and wickerwork replicating the company’s logo, while customers will receive Japanese-style folding fans as gifts.

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%…

265m tall tower for Toranomon Hills district

265m tall tower for Toranomon Hills district

More details have been released on the Toranomon Hills Station Tower which will be built on the north-west side of Toranomon Hills in central Tokyo. The building height will be 265 meters, which is 18 meters taller than the neighbouring Toranomon Hills tower and 17 meters taller that Tokyo Midtown. Construction of the 49-storey tower…

287m tall high-rise planned for Nihonbashi

287m tall high-rise planned for Nihonbashi

Details on the Nihonbashi 1 Chome Central District Redevelopment have been announced. The project will include a 287m tall high-rise with office, hotel and serviced apartments, as well as several low-rise retail, office and residential buildings. The high-rise tower will be taller than Tokyo Midtown (248m), Toranomon Hills (247m) and the Tokyo Metropolitan Government Building…

Kyoto’s tourism boom creates office shortage

With office vacancy rates in the 2% range, commercial tenants in Kyoto are reporting difficulty in finding new office space as the city’s supply of office buildings dwindles. This year, parts of Higashiyama, Nakagyo and Shimogyo saw rosenka land values increase by over 20%. Rising land values are being supported by the city’s booming tourist…

Tokyo office rents increase for 40th consecutive month

Tokyo office rents increase for 40th consecutive month

According to Miki Shoji’s Office Report, the office vacancy rate in Tokyo’s five central business districts of Chiyoda, Chuo, Minato, Shinjuku and Shibuya was 3.39% in April 2017, down 0.21 points from the previous month and down 0.84 points from last year. This is the lowest vacancy level seen in 9 years. The vacancy rate…

Go Top