Last Update: 04/22 2021 15:00 JST

Mitsubishi and others to build 99,000m2 Kobe Sannomiya complex

Kobe City approved construction of the Kobe Sannomiya Kumoidori Go-Chome District Category I Urban Redevelopment Project. This project will construct a mixed-use building with 32 floors above ground, two below and a gross floor area of approximately 98,900 m2 in blocks 5-1 to 5-3 of Kumoidori to the south of JR Sannomiya Station.

Rio acquires Kumamoto office building

Rio Holdings subsidiary Rio Consulting, both based in Chiyoda-ku, acquired an office building in Shinyashiki, Chuo-ku, Kumamoto City.

Nomura secures 390m2 of land in Shibakoen, Minato-ku

Nomura Real Estate Development acquired a retail building in Shibakoen, Minato-ku.

List Development purchases Shin-Yokohama office building

Yokohama City's List Development acquired an office property in Shin-Yokohama, Kohoku-ku, Yokohama City. The company plans to...

Mitsubishi starts compact office development in local cities

Mitsubishi Estate will develop its compact rental office building series of "Circles" in major local cities, which the company has been developing in central Tokyo so far. The first such project started in Nagoya City.

SMFL Mirai Partners acquires office building in Bunkyo-ku

Chiyoda-ku based SMFL Mirai Partners, which is a subsidiary of Sumitomo Mitsui Finance and Leasing (SMFL), acquired an office building in Koishikawa, Bunkyo-ku. The seller was...

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WHAT'S IN THE MONTHLY REPORT: APRIL 2021

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Vacancy Nightmare to Be Avoided

Floor reductions due to telework, but forecast of limited impact
Due to the spread of telework, some companies have started to reduce leased office area. In order to investigate the impact on the rental office market, Nikkei Real Estate Market Report estimated the vacancy rate and advertised rent for the next three years with the cooperation of Commercial Property Research Institute. As a result, even the maximum vacancy rate will be 6.2%. Although the rent will be bearish, it seems that a significant fluctuation causing market congestion can be avoided.
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