Why Japan's developers and investors have their sights set on mid-size office buildings
In a recent interview in the Mainichi Shibun’s Weekly Economist, the president of Ichigo Investment Advisors said that they found mid-sized office buildings to be advantageous during the slowdown in the office market.
Uehara Designer Building
¥1,200,000,000
Gross yield: 2.72%
Land & Building | Building size: 698.74 sqm (7,518 sq.ft)
Uehara, Shibuya-ku, Tokyo
Nishiazabu Commercial Building
¥818,000,000
Land & Building | Building size: 292.17 sqm (3,144 sq.ft)
Nishiazabu, Minato-ku, Tokyo
Romanee 80 Building
¥1,100,000,000
Gross yield: 2.99% (estimated)
Land & Building | Building size: 401.10 sqm (4,316 sq.ft)
Dogenzaka, Shibuya-ku, Tokyo
Earthtecture Sub-1
¥1,100,000,000
Land & Building | Building size: 430.84 sqm (4,636 sq.ft)
Uehara, Shibuya-ku, Tokyo
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Japan's largest travel company to sell HQ building
JTB Corporation, the largest travel agency in Japan, is selling off two of its buildings in Tokyo and Osaka in a deal that could fetch tens of billions of Yen. The company has struggled since the start of the pandemic, with travel transaction volume dropping 96% in 2020.
Commercial & Investment Properties For Sale
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In Japan’s real estate market, investors are seeking safe and stable rental yields rather than speculating on capital gains. With low financing costs, the real estate investment market here can be low-risk and low-return. There are no restrictions on real estate purchases by foreign individuals or corporations. In some cases, local financing may be available at competitive rates.
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Tokyo office tower could be up for grabs for US$2.9 billion
Advertising and public relations giant Dentsu Group is considering selling their head office building in Shimbashi, Tokyo. With an estimated price somewhere around 300 billion Yen (approx. US$2.9 billion), this could end up as Japan’s most expensive single-building sale. Several potential buyers are apparently already lined up.
Avex sells HQ building for 70 billion Yen
According to the Nikkei Shimbun, music and entertainment production company Avex is selling their headquarter building in Omotesando for an estimated 70 billion Yen (approx. US$675 million).
Tokyo tops worldwide commercial real estate sales
According to JLL, Tokyo attracted US$19.3 billion (approx. 2 trillion Yen) in commercial real estate investment between January and September 2020, putting it at the top of the international city rankings. In 2019 it was ranked 4th, losing out to Seoul, Paris and New York.