Sapporo’s office vacancy rate is on the rise
The office vacancy rate in Sapporo’s business district has recently hit an eight-year high. According to Miki Shoji, the vacancy rate was 4.08% in September 2024, up 1.22 points from last year. In existing buildings, the vacancy rate was 2.94%, and in brand-new office buildings it was 49.37%.Read more
Demolition to start on Shibuya 2 Chome multi-block project site
The Shibuya 2 Chome West District Redevelopment project will kick off in a few months. This project includes National Strategic Housing, giving it a boost to its floor-area ratio. The overall project, covering blocks A, B, and C, covers a total site of 18,800 m2, and includes a small retail space, along with residential and office towers with a GFA of 322,200 m2.Read more
REIT disposes of office buildings in Osaka and Tokyo
KDX Realty Investment Corporation sold two office buildings in Osaka and Tokyo this month, one of which sold for 14% less than its book value. The buyers were domestic corporations.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
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
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