Mitsubishi vacating Yokohama office tower

Mitsubishi Heavy Industries is relocating its head office operations from Yokohama to central Tokyo, joining related companies in aggregating its operations in one central location.Read more

Two floors in Roppongi Hills sold to small-lot real estate fund

Small-lot real estate fund creator and operator, Financial Partners Group (FPG), has acquired the 18th and 21st floors in Roppongi Hills Mori Tower. This is the largest acquisition by FPG to date, and potentially the largest small-lot investment to go on offer.Read more

Kudan-Minami office building traded for 3rd time in 3 years

A 10-story office building across from Yasukuni Shrine in Tokyo’s Chiyoda ward has changed hands for the third time in three years. NTT Urban Development acquired Pacific Square Kudan-Minami from a real estate fund in early 2008. It had been suffering from high vacancy rates at the time due to high supply in the neighborhood and a relatively small floor plate (144 m2).Read more

Seibu to sell off all assets by 2026, starting with Kioicho skyscraper

On May 9, Seibu Holdings confirmed its plans to sell the Tokyo Garden Terrace Kioicho property in central Tokyo within the year.Read more

An overview of Ginza's real estate market for May 2024

Ginza is perhaps the most famous retail destination in Japan. It’s also the most expensive in terms of rent and land prices and amongst the lowest in terms of cap rates. While land values took a dip during the pandemic when the country was closed to inbound tourism for 2.5 years, they have recently returned to positive territory. Below, we take a look at current market rents, land prices, and some commercial properties currently for sale in the Ginza address.Read more

Station access is make-or-break for one segment of Tokyo’s office market

Major corporate tenants in Tokyo are placing increasing priority on location as they seek convenience. Offices with better transport access are seeing vacancy rates fall, while those in slightly less convenient locations are continuing to see vacancy rates climb. The difference can be stark.

What’s causing this shift?Read more

JREIT trades Tokyo office for multi-family

ORIX JREIT and Osaka Gas Urban Development are trading several properties between each other this month, including some multi-family at appraised cap rates in the low-to-mid 3% range.Read more