NIKKEI REAL ESTATE MARKET REPORT

Last Update: 04/13 2021 06:00 JST
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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. ≫

LATEST NEWSMore

Seiwa acquires new apartment building in Iidabashi
Showa Tatemono affiliate acquires office building in Gotanda
Over 45,000m2 complex to be completed by Iidabashi Station
Property Agent to construct studio apartment in Toshima-ku
Roppongi retail building transacted
Vortex acquires building in Ebisu, Shibuya-ku
Meiho Enterprise developing rental apartment in Shinjuku-ku
Admiral sells office building in Kanda
Sekisui House developing Shinjuku-ku apartment building
Amano moving Tokyo Branch to Koraku Kajima Building

WHAT'S IN THE MONTHLY REPORT: APRIL 2021

Past Monthly Reports
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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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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
Kozo Hiratani to oversee Japan business of Grosvenor
Shizuoka’s Yoshicon to establish Tokaido REIT

DEALS

More
Seiwa acquires new apartment building in Iidabashi
Showa Tatemono affiliate acquires office building in Gotanda
Property Agent to construct studio apartment in Toshima-ku
Roppongi retail building transacted
Vortex acquires building in Ebisu, Shibuya-ku
Meiho Enterprise developing rental apartment in Shinjuku-ku
Admiral sells office building in Kanda
Sekisui House developing Shinjuku-ku apartment building
Kenedix Retail REIT to acquire four properties for Y22.3bn
Cosmos Initia sells Osaka Hommachi apartment

PROJECTS

More
Over 45,000m2 complex to be completed by Iidabashi Station
Property Agent to construct studio apartment in Toshima-ku
Meiho Enterprise developing rental apartment in Shinjuku-ku
Sekisui House developing Shinjuku-ku apartment building
SMBC affiliate developing mixed-use building in Nakano-ku
Bunkyo-ku apartment development site sold
Chuo-Nittochi to build mid-size Revzo brand Ichibancho office building
Daikyo developing apartment building in Taito-ku
Clearth Life developing condominium in Azabu
Land near Nishi-Shinjuku-Gochome Station sold

TENANTS

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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
Enabler relocating to WeWork in Kamiyacho
Recruit leasing Kudanzakaue KS Building in its entirety
Deloitte Tohmatsu to reduce Tokyo headquarters office area
Payment services provider Metaps relocating to WeWork in Shibuya
M&A broker Strike moving to Mitsui & Co. Building, expanding office
First domestic JustCo co-working office to open in Shibuya Hikarie

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
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
Ad agency Dentsu weighs sale of Tokyo HQ in $3bn megadeal

Most Read Articles

Today
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Monthly
Starwood to conduct TOB for Invesco Office J-REIT
Kenedix Retail REIT to acquire four properties for Y22.3bn
Roppongi retail building transacted
Sekisui House developing Shinjuku-ku apartment building
Over 45,000m2 complex to be completed by Iidabashi Station
Vortex acquires building in Ebisu, Shibuya-ku
Buyer of Osaka’s Taiko-En is religious corporation Soka Gakkai
LaSalle acquires TSI Shinjuku Tower
Admiral sells office building in Kanda
B-Lot acquires apartment building near Tokyo Medical University in Shinjuku
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Latest NewsView all

Seiwa acquires new apartment building in Iidabashi
Showa Tatemono affiliate acquires office building in Gotanda
Over 45,000m2 complex to be completed by Iidabashi Station
Property Agent to construct studio apartment in Toshima-ku
Roppongi retail building transacted
Vortex acquires building in Ebisu, Shibuya-ku
Meiho Enterprise developing rental apartment in Shinjuku-ku
Admiral sells office building in Kanda
Sekisui House developing Shinjuku-ku apartment building
Amano moving Tokyo Branch to Koraku Kajima 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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