Tokyo office rents at historically low levels

Miki Shoji announced on July 7 that office rents for commercial properties in central Tokyo have fallen 4% in the past 12 months and are now at the lowest levels ever seen since data collection began.

A major contributing factor to this fall are the companies who are seeing lower earnings as a result of the March 11 Tohoku disaster and can no longer pay high rent for their office space.Read more


Miyashita-cho Apartment site redevelopment tenders open to public

miyashita-cho-apartment-site

Tokyo City announced plans to redevelop 3 sites with a total size of 2.6 hectares just minutes from Shibuya Station. The 3 city-owned blocks of land include the 0.5 hectare site of the former Miyashita-cho Apartment block (Shibuya 1-23), a former school hall site of 0.4 hectares next to Mitake Park (Shibuya 1-18) and the 1.7 hectare site of the former Aoyama Hospital behind the UN University Bldg (Jingumae 5-53). Tenders will be open to the public from Summer, 2011.Read more


For Sale: 3 buildings owned by Japan Tobacco

roppongi-arents-exteriorJapan Tobacco have recently put three of their buildings in central Tokyo up for public sale and are currently accepting bids. The properties for sale are:

- Roppongi Arents (Residential)

- JT Ebisu Minami Building (Commercial)

- Alive Nanpeidai II Building (Commercial)Read more


UT Building Project (Stalled & Foreclosed)

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*Update: As of December, 2010, this building has been foreclosed on and is now up for public auction with a court evaluation price of 1,005,030,000 JPY (12 million USD).*

Located alongside Aoyama Dori Avenue, halfway between Omotesando and Shibuya Stations, this building has been 'under construction' for several years. Construction work stalled at least 2 years ago. Earlier last year there was a crane atop the building, but it has since been removed and there are no signs of life.Read more


TV Asahi to develop former Zaboo Onsen Site

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TV Asashi Nishiazabu Site, December 2010

 

TV Asahi acquired the Zaboo Onsen in July, 2010. An 18 storey office building with a total floorspace of 18,000sqm and an event hall will be built on the 3,769sqm site . Construction is scheduled to start in Summer, 2010 and should be completed by Fall 2013.Read more


Work to begin on former Gap site in Harajuku

Tokyu Plaza HarajukuTokyu Land Corporation announced that they will start construction work on their "Omotesando Project" site on November 12th.

The project is expected to be completed by Spring of 2012. The site was the former location of Gap and is located at the intersection of upscale Omotesando Avenue and Meiji Avenue with its casual fashion stores.Read more