Nogizaka talent agency HQ sold to real estate company
Real estate giant HULIC has emerged as the buyer of the disgraced former Johnny & Associates (now Smile-Up) headquarters in Akasaka. The sale took place in June 2024 at an undisclosed price.Read more
Marriott-branded hotel in Tottori delayed
At a city council meeting on September 17, Tottori City Mayor Yoshihiko Fukazawa announced a delay in the proposed development of a Marriott-branded hotel on the Tottori sand dunes. The city is now scheduled to sign an agreement with the developer on January 1, 2025, after the prolonged pandemic led to the postponement of the planned 2021 and 2023 dates.Read more
Sapporo’s rents on the rise
Sapporo City in Hokkaido is experiencing a rise in residential rental prices as the rapid increase in construction costs spreads to consumers. A larger supply of newer, high-end apartments has also contributed to the rise. Real estate portal site, AtHome, reported that average advertised rent for family-type apartments has reached the highest level since reporting began in 2015.Read more
Kawasaki shopping center sells for 4.8 billion Yen
The Japan Metropolitan Fund Investment Corporation (JMF) is acquiring a shopping center in Kawasaki City for 4.8 billion Yen (approx. US$34 million), 22% below its appraised value.Read more
Standard Land Prices increase 1.4% thanks to semiconductors and tourists
Standard Land Prices were announced on September 17, and a small town of just 36,000 residents in Kyushu topped the nationwide ranking for commercial land price growth with a 33.3% increase. There’s a simple reason - semiconductors.Read more
Central Tokyo's office vacancy rate drops to lowest level since Dec 2020
Central Tokyo’s office vacancy rate dropped to 4.76% in August, the lowest level seen since December 2020, according to brokerage Miki Shoji. For existing buildings, excluding new construction, the vacancy rate was 4.53%, down from 5.64% seen this time last year.Read more
Another semiconductor plant for Kumamoto?
Kikuyo Town near Kumamoto, the center of Kyushu’s semiconductor manufacturing boom, is preparing a new industrial park across the street from TSMC’s two chip plants with the goal of getting TSMC to open a third facility.Read more