Sapporo skyscraper to shrink as project costs skyrocket

The Hokkaido Railway Company (aka JR Hokkaido) is revising its plans for a skyscraper in front of Sapporo Station. Rising construction costs have seen the estimated project budget to reach the mid-300 billion Yen (US$2 billion) range, 100 billion Yen more than anticipated.Read more


Akasaka Garden City sells for 54.6 billion Yen

Sekisui House Reit is selling its share in Akasaka Garden City to an unnamed domestic special purpose company for 54.6 billion Yen (approx. US$365 million).Read more


Share of Kinshicho office tower to sell for 18.5 billion Yen

Global One Real Estate Investment Corp. is selling its ownership share in the 22-story Arca Central office building in Kinshicho for 18.5 billion Yen (approx. US$124 million). The buyer has not been publicly disclosed.Read more


Site near Hakuba ski slopes sells for 1.5 billion Yen

Mitsubishi Estate and Shimizu Corporation are acquiring a 19,000 m2 site near the Hakuba Iwatake Mountain Resort ski fields for 1.5 billion Yen (approx. US$10 million).Read more


Our 2024 Q3 Japan Real Estate Market Report

Our Japan Real Estate Market Report for the third quarter of 2024 is now available for download. This report dives into recent trends and news in Japan’s office, hotel, multi-family and logistics sectors.

Members can download our Q3 report below.Read more


New station and town development plan for Kumamoto’s semiconductor district as rents and land values rise

JR Kyushu is planning to open a new station alongside the Hohi Line between Haramizu and Sanrigi Stations in 2027. In conjunction, Kikuyo Town has published details on the 70-hectare land readjustment project or land re-zoning and planning to coincide with this new station.Read more


Nagoya hotel sells for 6.5 billion Yen

The Japan Prime Realty Investment Corporation J-REIT is acquiring a 153-room hotel on the eastern side of Nagoya Station. The acquisition price is 6.5 billion Yen (approx. US$44 million), which is around 42.5 million Yen per key. The cap rate is 4%, although it is leased to the operator under a fixed + variable rental agreement.Read more