Gucci owner and global luxury group Kering has purchased the Tod’s Omotesando building through a special-purpose company. The seller was a subsidiary of Tod’s.
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Office vacancy rate reaches new low in February
Tokyo’s prime office vacancy rate hit a new record low in February, dropping 0.04 points from the previous month to 1.49%. This is the lowest vacancy rate seen since December 1990 when it was as low as 0.39%.
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Partial interest in Otemachi office tower sells for 99.8 billion Yen
Mitsubishi Estate has sold a partial interest in the Otemachi Park Building for 99.8 billion Yen (approx. US$974 million).
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Mitsubishi’s 10-year, 700 billion Yen transformation of Marunouchi
One of Japan’s largest property companies is in the process of developing 600 ~ 700 billion Yen (approx. US$5.5 ~ 6.5 billion) in projects around the Marunouchi and Otemachi districts.
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400-meter long building for Nagoya Station area
Four developers are working towards a large-scale redevelopment that will see a 400-meter long, 30-story mixed-use building for the Nagoya Station area.
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Toranomon Hills Business Tower reaches completion this month
Construction of the 183-meter tall Toranomon Hills Business Tower was officially completed on January 21. The 36-story tower, designed by Ingenhoven Architects, forms part of Mori Building’s ongoing redevelopment of the Toranomon district.
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32-story office tower for Akasaka
The former Kokusai Akasaka Building will be replaced with a 32-story office tower. The new building will have a floor area of 73,000 sqm (approx. 785,000 sq.ft).
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Tokyo Bay’s largest retail complex to open in 2020
Sumitomo Realty & Development has released details on their mega retail project for Ariake island in Tokyo Bay.
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Construction starts on 265m Toranomon Hills Station Tower
Groundwork on the OMA-designed Toranomon Hills Station Tower in downtown Tokyo officially started on November 25. The high-rise forms part of Mori Building’s US$3.6 billion redevelopment project centered in Toranomon.
1,716 total views, 3 views today
Suruga Bank Tokyo branch building sold
Scandal-hit Suruga Bank’s Tokyo branch building in Nihonbashi has been purchased by Mitsui Fudosan for an undisclosed price. The property was owned by the bank’s founding family, who are in the process of paying off loans they had extended to themselves via the bank.
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