Last Update: 04/20 2021 14:30 JST

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...

Mitsui acquiring co-ownership to part of Imperial Hotel reconstruction site

The outline of the redevelopment of Block 1 in Uchisaiwaicho 1-chome, Chiyoda-ku, where structures including Imperial Hotel Tokyo stand, were disclosed following the agreement reached by the stakeholders on the policy for the urban development in March 2021.

Invesco REIT stays quiet on TOB by Starwood

Invesco Office J-REIT decided to reserve its opinion on the take-over-bid (TOB) by the Starwood Capital Group at this time. At the same time, the REIT established a special committee that is independent from both its asset manager Invesco Global Real Estate Asia Pacific and Starwood who set up the TOB.

UR purchases hotel in Harumi, Chuo-ku

Independent administrative institution Urban Renaissance Agency (UR) acquired a hotel in Harumi, Chuo-ku. The seller was...

IHI, Mitsubishi implementing 3rd joint project in Toyosu

Heavy machinery manufacturer IHI and Mitsubishi Estate will develop two buildings that mainly consist of office floors in Toyosu, Koto-ku. The project will be the third joint development project by the two companies, following Toyosu Front and Toyosu Foresia, both located in Toyosu.

Japan Metropolitan Fund to acquire two properties for Y30bn

Japan Metropolitan Fund, which is a REIT affiliated with trading firm Mitsubishi Corporation, will acquire a mixed-use building of offices and residences in Kudan-Kita, Chiyoda-ku, and a store in Shinsaibashi-suji, Chuo-ku, Osaka City, on April 30 for a total of approximately 29.94 billion yen [$260 million].

LaSalle Logiport acquiring large Osaka Bay area facility for Y40bn

LaSalle Logiport REIT will acquire a large logistics facility in Nanko-Naka, Suminoe-ku, Osaka City for 40 billion yen [$350 million].



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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.
Occupier Market | Deals Roundup | Relocation Update | News Digest

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