Last Update: 03/27 2020 15:30 JST

Retail Rent Survey Updated

Mitsubishi JV developing Nagoya mixed-use building in prime location

Nagoya City selected a group of four companies led by Mitsubishi Estate as the developer of the area including and surrounding Sakae Square (Sakae Hiroba; Block 25 in Nishiki 3-chome) at the center of the Sakae district. A mixed-use building that accommodates a hotel, offices, theaters and retail stores will be developed in the project. >>

JRE to acquire three office buildings in Shinjuku for Y36bn

REIT Japan Real Estate (JRE), which is affiliated with Mitsubishi Estate, will acquire three office buildings in and around Shinjuku from March to April 2020. >>

Advance Residence reshuffling and selling assets worth Y5bn

REIT Advance Residence that is affiliated with trading firm Itochu decided that it will reshuffle its properties in Tokyo and sell two properties in local cities. >>

Nippon Steel Kowa acquires office building in Shinjuku

Minato-ku's Nippon Steel Kowa Real Estate purchased an office property in Shinjuku, Shinjuku-ku. >>

Hulic REIT acquires four properties in Tokyo for Y24bn

Hulic REIT acquired two office buildings, one retail building and one hotel in Tokyo on March 26. The acquisition price of the four properties totaled approximately 23.67 billion yen [$210 million]. >>

SERIES: Impact of Novel Coronavirus

The spread of the novel coronavirus is increasingly strengthening its threat to the Japanese economy. It is inevitable that the real estate market will also be impacted. Given such circumstances, in this series, we compile the impact that the coronavirus will likely have on Japan’s real estate market, mainly based on reports published by real estate service companies and research firms.>>

WHAT'S IN THE MONTHLY REPORT: MARCH 2020Past Monthly Reports

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Feature: 2019 Rents

Shibuya Leads Market

"Increase in personnel and workstyle reform promote relocations"

As for the office building market in Tokyo in 2019, many tenants relocated with an aim to expand spaces and conduct work-style reform, and the market condition was more favorable even above the previous year. Especially, in the Shibuya area, there are tenants who want to have their bases there even if they have to pay expensive rent, and the area led to the rent increase. In addition, needs of shared office operators to open facilities were also strong, leading to the improvement of the overall market condition.>>

Under Construction Survey | Market Knowledge | Deals Roundup | Relocation Update | News Digest

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PROJECT MAP

A map and list of the 160 large-scale office building development projects currently in progress in Tokyo.

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