Shinagawa data center to sell for 70 billion Yen
Sekisui House Reit has sold the trust beneficiary interest in the Gotenyama SH Building for 70 billion Yen (US$517 million), a 36% premium over what it was acquired for in 2014. The sale price exceeded its appraisal value by 13%.Read more
Tokyo's office vacancy rate improves 0.3 points in April
Tokyo’s office vacancy rate in April was 6.11%, a 0.3 point improvement from the previous month and a 0.27 point improvement from last year. The office leasing market is showing signs of recovery, and some companies are seeking to expand their office space.Read more
Record high number of listed companies dispose of real estate in 2022
Of the 3,803 TSE listed companies, 114 reported the sale of real estate assets in the 2022 fiscal year, according to Tokyo Shoko Research. This is the highest number seen since 2007. In the late 1990s and early 2000s, the typical annual number ranged from 150 to 230 companies.
Omotesando retail flipped again
The Almost Blue retail building in Minami Aoyama has changed hands for the 3rd time in as many years.Read more
Komatsu to redevelop Akasaka HQ
On April 4, Komatsu announced plans to redevelop its headquarters in Akasaka, Tokyo.Read more
Omotesando office building reaches completion
Mitsubishi Estate and Y.K. Goko completed construction of the 3rd MINAMI AOYAMA office building on March 16.
Construction starts on new Yaesu building
On March 13, Daibiru began construction of a new commercial building in Yaesu. This forms part of the real estate company’s Design100 Project Phase-II which is aimed at maintaining and strengthening the competitiveness of existing assets. In this case, the previous Yaesu Dai Building that stood on this site was demolished. It had been designed by famed architect Togo Murano and completed in 1967.Read more