Last Update: 04/16 2021 11:00 JST

LG sells floors of Kyobashi Trust Tower for 27bn

Chuo-ku's LG Holdings Japan, the Japanese arm of South Korea's LG Group, sold four floors in Kyobashi Trust Tower, an office building in Kyobashi, Chuo-ku. The sales price was approximately 27.26 billion yen [$240 million]. LG Holdings Japan is currently constructing...

PAG acquires large office building in Shin-Yokohama

TMK Sun, which appears to be a special purpose company affiliated with Minato-ku-based PAG Investment Management, acquired an office building in Shin-Yokohama, Kohoku-ku, Yokohama City.

Takara Leben REIT acquires rental residence in Kadoma City, Osaka

REIT Takara Leben acquired a rental apartment for single occupants in Kadoma City, Osaka Prefecture. The acquisition price was...

Kenedix acquires building on Yokohama’s Motomachi Shopping Street

GK KRF95, which appears to be a special purpose company of Kenedix, acquired an office and retail building in Motomachi, Naka-ku, Yokohama City. The seller was...

Ichigo Owners acquires new apartment in Azabu-Juban

Chiyoda-ku based Ichigo Owners, which is a subsidiary of real estate fund manager Ichigo, acquired a rental apartment in Azabu-Juban, Minato-ku. The company will...

Rio acquires office building in Osaka's Otemae

Rio Holdings subsidiary Rio Consulting, both based in Chiyoda-ku, acquired an office property in Otemae, Chuo-ku, Osaka City. The seller was...

SMTB affiliate acquires Nihombashi-Hongokucho development site

Chiyoda-ku based Sansen Trust Insurance Service, an insurance agency intimate with the Sumitomo Mitsui Trust Group, acquired 369 m2 of land in Nihombashi-Hongokucho, Chuo-ku. The company will construct...

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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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