Last Update: 06/27 2019 14:30 JST

MetLife purchases Kawasaki office building

MetLife Insurance acquired an office building in Higashidacho, Kawasaki-ku, Kawasaki City. The transaction took place in January 2019. >>

Hulic REIT to acquire two properties for Y7bn

Hulic REIT will acquire two office buildings in Tokyo. The seller of both properties is Hulic, which is the REIT’s sponsor.>>

JPR reshuffles assets, including Kojimachi acquisition

REIT Japan Prime Realty (JPR) purchased an office building in Kojimachi, Chiyoda-ku and a restaurant building in Ueno, Taito-ku. On the same day, the REIT sold an office building in Kyobashi, Chuo-ku.>>

Yomiuri Shimbun developing hotel in Nagoya for Marriott

The Yomiuri Shimbun will start construction of a hotel in Sakae, Naka-ku, Nagoya City. After the hotel is completed, the newspaper publisher will exclusively lease it to Marriott International of the U.S. for Courtyard by Marriott Nagoya. >>

South Korean fund acquires large building in Tennozu, Shinagawa-ku

A fund managed by Daishin Asset Management in South Korea acquired Canal Side Building in Higashi-Shinagawa, Shinagawa-ku in May 2019. The seller was a special purpose company of Minato-ku based fund management company Risa Partners.>>

Nomura secures 4,600 m2 of land near Harajuku Station

Nomura Real Estate Development acquired a rental apartment in Jingumae, Shibuya-ku, in January 2019. At the same time, the company also acquired a private house, which is adjacent to the apartment, and 1,548 m2 of land. The total area of the land secured by Nomura when combining all the abovementioned transactions will be 4,626 m2.>>


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Office Supply Resurgence in 2024

Development under way for 103 buildings, 11 million m2 GFA

A total of 103 large-scale office buildings, each with a gross floor area of at least 10,000 m2, are to be completed in the 23 wards of Tokyo in or after 2019 for an aggregate gross floor area reaching 10.74 million m2. The number of plans for buildings that were newly identified from last year's survey was 17. Four large-scale projects exceeding 100,000 m2 were added. Another supply peak is expected to arrive around 2024.>>

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