Last Update: 03/09 2021 11:30 JST

The Monthly Edition

In-depth analysis reports delivered in a form of PDF publication
February 2021, Issue 139
Transactions: 2020
Staying Afloat

Transaction volume up, difference among sectors conspicuous

Occupier Market
Offering Flexible Conditions

Rent decreases in nine areas of Tokyo and Kanagawa

Market Knowledge
Apartment Rents Down But Investment Up

Leasing Management Consulting: "Unit Price per Tsubo and Key Money for Rental Apartments in Five Major Wards of Central Tokyo (End of November 2020)"

Deals Roundup
AXA acquires rental residences in Tokyo for Y70bn
Relocation Update | News Digest
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January 2021, Issue 138
Local Markets: Fukuoka
Deregulation for Regeneration

City grants more FAR, pushes developers to design 'corona-free' buildings

Analyst Survey
Forecasting the New Normal

Office space demand will weaken, but rate of decline will slow

Market Knowledge
Listed REIT AUM Exceeds 20 Trillion Yen

The Association for Real Estate Securitization (ARES): "Monthly Report (November 2020)"

Deals Roundup
Blackstone acquires 18 properties from PAG for Y110bn
Relocation Update | News Digest
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December 2020, Issue 137
Under Construction Survey
Medium-Sized Office Projects Stay Strong

Construction starts for 74 projects in Tokyo and 51 projects in Yokohama

Market Knowledge
Changing Relocation Dynamics

Xymax Real Estate Institute: "Investigation on the Relocation Trend of Companies"

Deals Roundup
GLP J-REIT to acquire Yokohama property for Y24.27bn
Relocation Update | News Digest
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November 2020, Issue 136
Area in Focus: Ginza
Changing Retail Cityscape

Tenants move out, store rents turn downward

Transactions: 3Q 2020
Unclear Outlook

Recovery in sales transactions led by logistics

Occupier Market
Necessity Versus Need

Shibuya-ku rents fall as tenants shrink office footprints

Interview
Act on Subleased Rental Housing

Q&A with attorney Masahito Saeki

Market Knowledge
Potential Office Vacancy Nearly 5%

Commercial Property Research Institute: "Office Market Vacancy Rate Report"

Deals Roundup
Toyobo Building in Osaka transferred from PGIM to Gaw Capital
Relocation Update | News Digest
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October 2020, Issue 135
Topics: Retail Market
Changing Store Opening Strategies

Sought-after specs and locations in post-COVID era

Occupier Market
99% Occupancy at New Completions

Sense of slowdown for ongoing developments

Market Knowledge
90% of Owners Receive Rent Reduction Requests

Daiwa Real Estate Appraisal: "Survey Results on Rent Reduction/Exemption Requests"

Deals Roundup
Mitsui's logistics REIT to acquire Ibaraki City property for Y58.9bn
Relocation Update | News Digest
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September 2020, Issue 134
Local Markets: Nagoya
Demand Shift Under Pandemic

Store rents decrease, development site transactions in Meieki area

Under Construction Survey
111 Starts in Tokyo and Yokohama

Senkyaku Banrai Facility project in Toyosu Market launched

Topics
Q&A on Emergency Rent Support Program

Interview of Mori Hamada & Matsumoto attorney Masahito Saeki

Market Knowledge
Ginza Retail Rents Finally Decrease

Cushman & Wakefield: "Q2 2020 Retail MarketBeat"

Deals Roundup
AXA IM and ESR fund acquires Amazon occupied logistics facility
Relocation Update | News Digest
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August 2020, Issue 133
Transactions: 2Q 2020
Diverse Impact

COVID-19 hits market, sales amount decreased by 60% YoY

Topics
Caution Ahead

Seven indicators point to trouble in residential market in a year

Occupier Market
Telework Influencing Market

Vacancy rate increases conspicuously in Shibuya Ward

Market Knowledge
Signs of Recovery

Daiwa Real Estate Appraisal: "Leading Indicator of Real Estate Transaction Market (Change in Number of Inquiries for Appraisal)"

Deals Roundup
Apparel company Sanyo to sell Ginza flagship store
Relocation Update | News Digest
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July 2020, Issue 132
Local Markets: Osaka
Major Deal After Major Deal

Office transactions quietly strong despite uncertainty

Analyst Survey
Forecasts Dramatically Change

Inevitable market deterioration in 2021, but no significant fall in rent

Topics: Coronavirus
Who Bears the Cost?

Owners worry as tenants call for rent reductions

Market Knowledge
Real Estate Prices Amid COVID-19

Sumitomo Mitsui Trust Research Institute: "Understanding the Fluctuation of Real Estate Prices in March 2020 from Daily PPI - Impact of COVID-19 -"

Deals Roundup
AXA acquires Nagoya rental residence for Y20bn
Relocation Update | News Digest
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June 2020, Issue 131
Survey
New Peak of Office Supply Around 2025

Development underway for 96 buildings, 10.22 million m2 GFA

Under Construction Survey
Large Developments Commence

Construction starts for 1.67 million m2 GFA in 17 projects

Market Knowledge
COVID-19 Impact on 2020 Investment Policies

CBRE: "Japan Investment Major Report - Investor Intentions Survey 2020"

Deals Roundup
Goldman private REIT purchases Shibaura office building
Relocation Update | News Digest
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May 2020, Issue 130
Transactions: 1Q 2020
Sales Transactions at Five Year High

Sense of caution over REIT market conditions

Occupier Market
Woes Yet to Come

Rent increased in 12 areas

Market Knowledge
Private Fund Market Surpasses 20 Trillion Yen

Sumitomo Mitsui Trust Research Institute: "Survey on Private Real Estate Funds in Japan January 2020 - Results"

Deals Roundup
Prologis private fund to acquire four logistics facilities for Y50bn
Relocation Update | News Digest
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April 2020, Issue 129
Feature: Coronavirus
No Light in Sight

Epidemic casts shadows on hotel and retail sales

Trends
Social Impact

ESG investments take root with 150 billion yen in green bonds issued

Occupier Market
High Occupancy Continues

But market braces for rapid changes in conditions

Deals Roundup
French luxury conglomerate Kering acquires Omotesando building
Relocation Update | News Digest
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March 2020, Issue 128
Feature: 2019 Rents
Shibuya Leads Market

Increase in personnel and workstyle reform promote relocations

Under Construction Survey
Large Reconstructions Underway

Progress in 83 projects in Tokyo and 46 projects in Yokohama

Market Knowledge
Global Investment Targets Tokyo, Osaka

ANREV: "Global Investment Intentions Survey 2020"

Deals Roundup
Norway fund buys $740 mn chunk of Tokyo office
Relocation Update | News Digest
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February 2020, Issue 127
Transactions: 2019
Market Led by Logistics

Diversification progresses beyond office buildings

Occupier Market
Strong Rents in Tokyo CBD Peripheral Areas

Upper limit at 54,000 yen per tsubo in Tokyo Station area

Market Knowledge
Record Percentage Rent Revisions

Mori Building: "2019 Survey of Office Needs in Tokyo's 23 Wards"

Deals Roundup
Blackstone buys back residential portfolio of Anbang Insurance Group
Relocation Update | News Digest
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January 2020, Issue 126
Feature: Tech
Emergence of Flexible Workplaces

Short-term office lenders gain momentum with WeWork's downfall

Local Markets: Fukuoka
Launch of Hakata Redevelopment

Deteriorating Japan-South Korea relations shaking up hotels

Analyst Survey
Mass Supply Not an Issue

Rent peak in 2H of 2020, caution over macroeconomic trends and secondary vacancies

Market Knowledge
Record High Logistics Facilities Demand in Greater Tokyo Area

Ichigo Real Estate Service: "Industrial Market Research October 2019"

Deals Roundup
Nuveen JV acquires Amazon logistics facility from Blackstone
Relocation Update | News Digest
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December 2019, Issue 125
Case Study
New Look for Old Office Buildings

Mitsubishi, Sumitomo to strive to attract long-term tenants

Under Construction Survey
Over a Million m2 GFA Underway

Launch of 82 projects in Tokyo and 36 projects in Yokohama

Market Knowledge
Smallest Ever Office Space Allocation

Xymax Real Estate Institute: "Office Space per Person 2019"

Deals Roundup
Dai-ichi Life acquires 47% of massive apartment tower
Relocation Update | News Digest
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November 2019, Issue 124
Feature
WeWork Bailout

SoftBank steps in to save stumbling co-working giant

Area in Focus: Ginza
Luxury Transactions Galore

Local apprehensions regarding partiality towards retailers

Transactions: 3Q 2019
Flat Despite Strong Appetite

Bulk transactions continue with hope for recovery of REITs

Occupier Market
Shinagawa Highly Evaluated

Upper limit at 53,000 yen per tsubo in Tokyo Station area

Market Knowledge
Tokyo Ranked Second in Innovation

JLL: "Innovation Cities in the World"

Deals Roundup
CBRE GI acquires floors in Harumi Triton
Relocation Update | News Digest
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October 2019, Issue 123
Feature
Rise of Pop-Up Stores

Increasing demand for urban retail facilities

Occupier Market
Filling Up Quickly

Occupancy 90% at 56 new buildings, 60% of uncompleted buildings full

Market Knowledge
Little Vacancy Impact from 2023 Mass Supply

NLI Research Institute report: "Current Status and Forecast of 'Central Tokyo Class A Building Market' (August 2019)"

Deals Roundup
LaSalle Logiport to buy factory-converted into warehouse
Relocation Update | News Digest
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September 2019, Issue 122
Local Markets: Nagoya
Zero Vacancy Propels Redevelopments

Old city-center fights back with new building plans

Under Construction Survey
Few Large-Scale Projects

Launch of 78 projects in Tokyo and 52 projects in Yokohama

Market Knowledge
Active Student Housing

TMAX Valuation research report: "Due Diligence of Rental Residences for Students"

Deals Roundup
CBRE GI replaces Osaka landmark office with 18 residences
Relocation Update | News Digest
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August 2019, Issue 121
Transactions: 2Q 2019
Large Properties at Higher Prices

The opportunity for sales spreads

Occupier Market
Demand for Large-Scale Spaces

Candidate tenants rush for high grade buildings in Shibuya

Market Knowledge
Real Estate Loans Increasing with Caution

CBRE: "2019 Lender Survey"

Deals Roundup
South Korean fund acquires new Hanzomon office occupied by WeWork
Relocation Update | News Digest
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July 2019, Issue 120
Local Markets: Osaka
Developments along Midosuji Boulevard Resume

Hotel market enters adjustment period

Analyst Survey
Rents to Keep Rising in 2019

Increasing apprehension of macroeconomy

Market Knowledge
Yokohama Office Rent Rise Expected

CBRE: "Japan's Emerging R&D Hub Yokohama Minato Mirai"

Deals Roundup
South Korean fund acquires Canal Side Building for Y20bn
Relocation Update | News Digest

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