World’s largest wooden hybrid building to be built in Marunouchi
On August 1, Tokio Marine Holdings released details on the Renzo Piano-designed replacement office tower for their headquarters in Tokyo’s Marunouchi district. It is said to become the world’s largest wooden hybrid building when it’s complete in 2028.
Tokyo’s office vacancy rate flattens in April
Tokyo’s office vacancy rate increased only slightly by 0.01 points to 6.38% in April as large-scale leases continued to be filled in existing buildings in the city center. Some tenants were relocating to be better located in Tokyo’s business districts. Vacant office space, too, saw little change from the previous month.
Tokyo's office vacancy rate improves for first time in 21 months
In November, the office vacancy rate in Tokyo improved for the first time in 21 months as concerns over the pandemic’s effects on the workplace seem to have weakened.
Tokyo office vacancy rate climbs for 20th month
According to brokerage Miki Shoji, the average vacancy rate for office space across Tokyo’s five business districts of Chiyoda, Chuo, Minato, Shinjuku and Shibuya reached 6.47% in October, up 0.04 points from the previous month and up 2.54 points from last year. This is the 20th month in a row to see an increase.
Staffing company to lease Avex HQ
Staffing and outsourcing giant Pasona Group will be leasing the entire Avex Building in Omotesando.
More companies selling off real estate holdings in 2021
This year could see a record number of listed companies sell off real estate holdings, according to data collected by Tokyo Shoko Research.
Office vacancy rate hits 7 year high
The average office vacancy rate across Tokyo’s five business districts of Chiyoda, Chuo, Minato, Shinjuku, and Shibuya reached 6.43% in September, up 0.12 points from the previous month and the highest level seen since June 2014 when it was 6.45%.