New office building for Sapporo's neon nightlife neighborhood
This November, Tokyu Land Corporation will open a 13-story tenant office building (pictured above) in Sapporo’s Susukino neighborhood, the biggest entertainment district north of Tokyo. Why build an office here?
Susukino is a major shopping and entertainment destination, and not commonly thought of as an office district. Why would a developer build an office here? A representative from the developer, Tokyu Land Corporation, said that as the lines between work life and personal life blur, an office in a more vibrant location with plenty of places to eat, shop and be entertained might make for a more exciting work environment.Read more
Fukuoka REIT acquires two assets in Kyushu
Fukuoka REIT, whose sponsors include the Kyushu Electric Power Company and Fukuoka Jisho, has acquired two assets in Kyushu in August, as it further diversifies its portfolio. The two acquisitions are for a logistics center in Kumamoto and a rental apartment building in Fukuoka City. Delivery of both properties is scheduled to take place in March 2025.Read more
60 billion Yen luxury resort project for Okinawan island
Keihan Real Estate, a subsidiary of rail-related Keihan Group, along with several other companies, is planning a 60 billion Yen (US$415 million) hotel resort project on Okinawa’s Minna-jima Island. Other project participants include Tokyo-based design firm Koikedesign Group, and Naha-based real estate firm ZEKKEI.Read more
44-yr old Osaka office building sells for over 30 billion Yen
Kanden Realty & Development, a subsidiary of the Kansai Electric Power Company, has paid over 30 billion Yen (US$208 million) for the former headquarters of textile manufacturer Toyobo.Read more
Occupancy, Yields, and Rents for Tokyo’s multifamily market
In a data-driven analysis into Tokyo's multifamily real estate market, we examined a sample of 50 apartment buildings comprising nearly 1,000 units listed for sale across the city's 23 wards as of August 2024. This gives us a snapshot of occupancy rates, yields, and rents. Based on this sample, the median gross* yield is 4.09%.Read more
Confectioner acquires winery in Koshu Valley wine country
Châteraisé, a confectioner based in Yamanashi Prefecture, has acquired the Grande Polaire Katsunuma Winery from Sapporo Beer for an undisclosed price.Read more
130-meter tall office & residential tower for Iidabashi
A 130-meter tall, 21-story mixed-use building is planned for part of a city block just south of Iidabashi Station. This project will be primarily office with the top four floors dedicated to apartments.Read more