Staffing and outsourcing giant Pasona Group will be leasing the entire Avex Building in Omotesando.
The 101-meter tall Avex Building was completed in 2017 and has a total floor area of 28,300 sqm. Music and entertainment production company Avex had occupied the site since 1995 and acquired the land in 2002. In late 2020 it was announced that Avex would be selling the recently-built building and land to a Canadian fund for an estimated 70 billion Yen (approx. US$675 million at the time), with a lease-back plan.
Avex is now planning to relocate its head office to a building in Azabu Juban in March 2022.
Pasona’s lease term is expected to be between 5 and 10 years. They are moving from their current HQ in the Nihon Building in Otemachi. That building was completed in 1962 and will soon be demolished to make way for a larger block redevelopment. Pasona operated a hobby farm on the 13th floor with cows, goats, pigs, chickens, flamingos, and one alpaca.
Source: The Nikkei Shimbun, October 22, 2021.
1,661 total views, 2 views today