NIKKEI REAL ESTATE MARKET REPORT

Last Update: 05/07 2021 13:00 JST
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Samty acquires retail building in Nihombashi-Bakurocho

Real estate company Samty acquired a retail building in Nihombashi-Bakurocho, Chuo-ku. The seller was... ≫

Takara Leben developing office, retail building in Nihombashi

Takara Leben will construct a building consisting of offices, stores and restaurants in Nihombashi, Chuo-ku. Construction will start in June 2021, with completion targeted for November 2022. ≫

Nomura developing 64,000m2 GFA logistics facility in Toda City, Saitama

Nomura Real Estate Development will start development of a logistics facility in Kawagishi, Toda City, Saitama Prefecture. The structure will have four floors above ground with 64,254 m2 of gross floor area. Completion is targeted for August 2023. ≫

Mitsubishi Estate makes $2bn push into US data centers

Mitsubishi Estate aims to build seven U.S. data centers near Washington by around the end of the decade at an estimated cost of 200 billion yen [$1.83 billion]. ≫

Industrial Fund selling data centers in Shinagawa and Zama

Industrial & Infrastructure Fund (IIF), a REIT affiliated with trading firm Mitsubishi Corporation, decided to sell two properties, which are data centers in Shinagawa-ku and Zama City, Kanagawa Prefecture. ≫

Japan Metropolitan Fund to acquire private REIT investment units

Japan Metropolitan Fund will acquire the investment units of Nisshin Private Residential REIT (NSPR). ≫

LATEST NEWSMore

DeNA to return over 4,600 tsubos of Shibuya Hikarie
Samty acquires retail building in Nihombashi-Bakurocho
Sunpia developing office, retail building in Shimbashi
Nomura developing 64,000m2 GFA logistics facility in Toda City, Saitama
Takara Leben developing office, retail building in Nihombashi
Industrial Fund selling data centers in Shinagawa and Zama
Mitsubishi Estate makes $2bn push into US data centers
JR East establishes asset manager with eye on REIT
Japan Metropolitan Fund to acquire private REIT investment units
Cosmos Initia sells Ebisu, Shibuya-ku office building after renovation

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

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JR East establishes asset manager with eye on REIT
Japan Metropolitan Fund to acquire private REIT investment units
Sumitomo Forestry and others to develop Seattle suburb residences
Nippon Steel Kowa to enter student housing business
MUFG to rebuild Marunouchi headquarters to consolidate offices
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

DEALS

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Samty acquires retail building in Nihombashi-Bakurocho
Sunpia developing office, retail building in Shimbashi
Takara Leben developing office, retail building in Nihombashi
Industrial Fund selling data centers in Shinagawa and Zama
Cosmos Initia sells Ebisu, Shibuya-ku office building after renovation
Properst sells apartment building in Nihombashi-Bakurocho
Family office acquires additional Ginza land for development
Kyobashi, Chuo-ku building sold to Aoyama Zaisan Networks
ESR acquires data center in Osaka
Open House subsidiary sells apartment in Setagaya-ku

PROJECTS

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Sunpia developing office, retail building in Shimbashi
Nomura developing 64,000m2 GFA logistics facility in Toda City, Saitama
Takara Leben developing office, retail building in Nihombashi
Mitsubishi to build on former Tohan headquarters site
Family office acquires additional Ginza land for development
Plastic bag manufacturer developing HQ building in Higashi-Kanda
Raysum developing 8,000 m2 GFA office in Jingumae, Shibuya-ku
Hulic to construct office and retail building in Kyobashi, Chuo-ku
Mitsubishi developing rental apartment building in Moto-Asakusa
Nippon Steel Kowa developing two apartment buildings in Shinagawa-ku

TENANTS

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DeNA to return over 4,600 tsubos of Shibuya Hikarie
Parexel concentrating offices to Kayabacho Tower
Plastic bag manufacturer developing HQ building in Higashi-Kanda
Japan Bond Trading to relocate to Akihabara Daibiru Building
HP Japan moving to Shinagawa Season Terrace
Tokio Marine Holdings leasing 10,000 tsubos in Tokiwabashi Tower
Multi-brand store operator relocating to Shin-Aoyama Tokyu Building
Hodogaya Chemical moving to Shiodome Sumitomo Building
Jutec constructing its own building using wood in Shimbashi
KYB leasing space at Hamamatsucho WTC South

STATS

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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
Mitsubishi Estate makes $2bn push into US data centers
Oyo's Japan unit sells long-suffering residential business
Japan's K-shaped recovery emerges in home prices amid COVID crisis
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

Most Read Articles

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Weekly
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Samty acquires retail building in Nihombashi-Bakurocho
DeNA to return over 4,600 tsubos of Shibuya Hikarie
Takara Leben developing office, retail building in Nihombashi
First domestic JustCo co-working office to open in Shibuya Hikarie
Nomura developing 64,000m2 GFA logistics facility in Toda City, Saitama
Kadoya Fudosan developing apartment building in Ota-ku
ESR acquires data center in Osaka
Aizawa Securities moving to Tokyo Shiodome Building
Oyo's Japan unit sells long-suffering residential business
Mitsubishi Estate makes $2bn push into US data centers
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Latest NewsView all

DeNA to return over 4,600 tsubos of Shibuya Hikarie
Samty acquires retail building in Nihombashi-Bakurocho
Sunpia developing office, retail building in Shimbashi
Nomura developing 64,000m2 GFA logistics facility in Toda City, Saitama
Takara Leben developing office, retail building in Nihombashi
Industrial Fund selling data centers in Shinagawa and Zama
Mitsubishi Estate makes $2bn push into US data centers
JR East establishes asset manager with eye on REIT
Japan Metropolitan Fund to acquire private REIT investment units
Cosmos Initia sells Ebisu, Shibuya-ku office building after renovation

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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