Harumi's office market woes continue
News broadcaster NHK has now picked up on the struggling office market conditions around Tokyo Bay, particularly Harumi island. Of interest is the Harumi Island Triton Square office complex. The landmark project was completed in 2001 with a shopping mall inspired by Southern Europe. Above, there are four office blocks with a total floor area of 383,300 m2 (4.1 million sq.ft).
Office occupancy was great up until five years ago, with some of the towers fully leased up. Now, there is around 10,000 tsubo or 33,000 m2 of vacant space. One of the office towers has a vacancy rate of 20%.Read more