NIKKEI REAL ESTATE MARKET REPORT

Last Update: 04/22 2021 15:00 JST
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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... ≫

LATEST NEWSMore

Cosmos Initia developing rental apartment in Taito-ku
Jutec constructing its own building using wood in Shimbashi
Mitsubishi and others to build 99,000m2 Kobe Sannomiya complex
Atrium developing rental apartment building in Moto-Asakusa
Nomura secures 390m2 of land in Shibakoen, Minato-ku
Rio acquires Kumamoto office building
Fukuoka’s Shibaura Group acquires apartment building in Edogawa-ku
Mitsubishi starts compact office development in local cities
Nomura developing wooden hybrid structure office building in Gaiemmae
List Development purchases Shin-Yokohama office building

WHAT'S IN THE MONTHLY REPORT: APRIL 2021

Past Monthly Reports
cover image
Analysis

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

TRENDS

More
Invesco REIT stays quiet on TOB by Starwood
Diamond Realty Management creates separate account for Mizuho Leasing
Starwood to conduct TOB for Invesco Office J-REIT
Sun Frontier to open day of the week-based offices
Mitsubishi and Tokyo Century to acquire hotel for Y56bn
LaSalle Logiport to indirectly invest in Osaka area development
Genkai Capital invests in Indian for-sale condo project
PGIM to acquire four residences for Y9.2bn
Mitsubishi to make JRE AM wholly-owned subsidiary
Sumitomo Corporation’s PREX series to reduce tenant construction burden

DEALS

More
Cosmos Initia developing rental apartment in Taito-ku
Nomura secures 390m2 of land in Shibakoen, Minato-ku
Rio acquires Kumamoto office building
Fukuoka’s Shibaura Group acquires apartment building in Edogawa-ku
List Development purchases Shin-Yokohama office building
Sony affiliate acquires apartment in Azabu-Juban
Kyoto company acquires Higashi-Nihombashi office building
Mitsubishi Corp to build multi-tenant factory/R&D facility in Ota-ku
Admiral renovates, sells Asakusabashi office building
SMFL Mirai Partners acquires office building in Bunkyo-ku

PROJECTS

More
Cosmos Initia developing rental apartment in Taito-ku
Jutec constructing its own building using wood in Shimbashi
Mitsubishi and others to build 99,000m2 Kobe Sannomiya complex
Atrium developing rental apartment building in Moto-Asakusa
Mitsubishi starts compact office development in local cities
Nomura developing wooden hybrid structure office building in Gaiemmae
Atrium developing rental apartment building in Haneda
Mitsubishi Corp to build multi-tenant factory/R&D facility in Ota-ku
Mitsui acquiring co-ownership to part of Imperial Hotel reconstruction site
IHI, Mitsubishi implementing 3rd joint project in Toyosu

TENANTS

More
Jutec constructing its own building using wood in Shimbashi
KYB leasing space at Hamamatsucho WTC South
TEPCO Energy Partner leasing all of NBF Hatchobori Terrace
Sompo Warranty moving to Sumitomo Fudosan Ochanomizu Building
Game developer Drecom concentrating offices into ThinkPark Tower
Buddynet relocating to Sumitomo Fudosan Kyobashi Building
Amano moving Tokyo Branch to Koraku Kajima Building
E-commerce website operator Crooz moving to Ebisu SS Building
Aizawa Securities moving to Tokyo Shiodome Building
Yamada Denki to depart Shinbashi Ekimae MTR Building

STATS

More
Japan drops two ranks to 16th in RE transparency: JLL
COVID-19 affects asset types differently: Daiwa Real Estate Appraisal
BOJ survey indicates business conditions declining due to coronavirus
Loans to real estate exceed Y100tn for first time
Loans to real estate reach Y99tn as capital demand remains avid
Loans for individuals decreased 20% and for real estate reach turning point
J-REIT market exceeds Y20tn: ARES
No celebration despite Japan rising to 14th in RE transparency: JLL
Loans to real estate hits highest ever at Y97tn; momentum likely to peak out
Loans to real estate continues to increase, balance at almost Y95tn

NIKKEI.com

More
Hoshino Resorts leaves mountains for the city in post-COVID era
Why tiny buildings are big in Japan
Shuttered Japanese inn reopens as modern art masterpiece
Mitsubishi to sell Nagoya high-rise to Canada's BGO
Kintetsu to sell 8 hotels to Blackstone for $550m
Tokyo's famed Imperial Hotel to undergo $2bn teardown and makeover
How Japan's builders absorbed the lessons of the 2011 earthquake
Dai-ichi Life targets 30% cut in portfolio CO2 emissions by 2025
Japan entices global funds hungry for pandemic spinoffs
Tokyo's Imperial Hotel repurposes luxury rooms as rentals

Most Read Articles

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Mitsubishi and others to build 99,000m2 Kobe Sannomiya complex
Nomura secures 390m2 of land in Shibakoen, Minato-ku
Rio acquires Kumamoto office building
Jutec constructing its own building using wood in Shimbashi
Cosmos Initia developing rental apartment in Taito-ku
Fukuoka’s Shibaura Group acquires apartment building in Edogawa-ku
SMFL Mirai Partners acquires office building in Bunkyo-ku
Comforia Residential REIT reshuffling Saitama and Osaka assets
List Development purchases Shin-Yokohama office building
Mitsubishi starts compact office development in local cities
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Latest NewsView all

Cosmos Initia developing rental apartment in Taito-ku
Jutec constructing its own building using wood in Shimbashi
Mitsubishi and others to build 99,000m2 Kobe Sannomiya complex
Atrium developing rental apartment building in Moto-Asakusa
Nomura secures 390m2 of land in Shibakoen, Minato-ku
Rio acquires Kumamoto office building
Fukuoka’s Shibaura Group acquires apartment building in Edogawa-ku
Mitsubishi starts compact office development in local cities
Nomura developing wooden hybrid structure office building in Gaiemmae
List Development purchases Shin-Yokohama office building

Editors' Pick

Starwood to conduct TOB for Invesco Office J-REIT
GreenOak acquires large office building in Nagoya
Sumitomo planning GFA 30,000 m2 office development
Nomura JV selected as Nakano Sunplaza Redevelopment Project developer
Blackstone invests in eight Kintetsu-owned hotels
Sun Frontier to open day of the week-based offices
Pola Aoyama Building reconstructed to 17,000 m2 GFA mixed-use building
Mitsubishi and Tokyo Century to acquire hotel for Y56bn
LaSalle Logiport to indirectly invest in Osaka area development
Genkai Capital invests in Indian for-sale condo project
LaSalle acquires TSI Shinjuku Tower
PGIM to acquire four residences for Y9.2bn
Hong Kong’s Phoenix acquires office building in Yokohama

MORE SURVEYS AND ANALYSIS

CLOSING RENT SURVEY Our proprietary survey of closing rents for rental office buildings in Tokyo and Yokohama.
RETAIL RENT SURVEY Advertised rents and vacancies on major shopping streets in Ginza, Omotesando, Shinjuku, etc.
PROJECT MAP A map and list of the 100 large-scale office building development projects currently in progress in Tokyo.
OFFICE CAP RATES Quarterly cap rate survey on office building transactions, based on our proprietary estimation
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