Last Update: 04/13 2021 06:00 JST

Over 45,000m2 complex to be completed by Iidabashi Station

The Iidabashi Station East District Category I Urban Redevelopment Project will be in motion in Iidabashi, Chiyoda-ku, next to JR Iidabashi Station’s east exit. The redevelopment preparatory association plans to construct an office and retail building with a maximum height of 130 meters, 24 floors above ground, two floors below and a gross floor area of about 45,700 m2.

Seiwa acquires new apartment building in Iidabashi

Chiyoda-ku's Seiwa Building (Seiwa Sogo Tatemono) acquired The Park Habio Iidabashi Place in Iidabashi, Chiyoda-ku.

Sekisui House developing Shinjuku-ku apartment building

Sekisui House will construct a five-storey apartment building in Nishi-Waseda, Shinjuku-ku. Construction will start in June 2021, with completion slated for March 2023.

Vortex acquires building in Ebisu, Shibuya-ku

Chiyoda-ku's real estate company Vortex acquired an office and retail building in Ebisu-Minami, Shibuya-ku. The seller was...

Kenedix Retail REIT to acquire four properties for Y22.3bn

Kenedix Retail REIT will acquire four properties including a retail facility in Chofu City, Tokyo, for a total of approximately 22.34 billion yen [$200 million]. It will also sell a part of a retail facility in Inamachi, Saitama Prefecture.

Cosmos Initia sells Osaka Hommachi apartment

Condominium developer Cosmos Initia sold a rental apartment building in Itachibori, Nishi-ku, Osaka City.

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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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