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Cushman & Wakefield completes acquisition of major logistics development site in Tsukuba, Japan

Yuko Okayasu • 02/08/2021

Cushman & Wakefield, a leading global real estate services firm, announced today that Cushman & Wakefield Asset Management K.K. has completed, through a Special Purpose Company, the acquisition of a site for the development of a large-scale logistics facility of over 70,000 square meters in Tsukuba City, Ibaraki Prefecture in Japan.

Tsukuba Nara land acquisition

Cushman & Wakefield, a leading global real estate services firm, announced today that Cushman & Wakefield Asset Management K.K. has completed, through a Special Purpose Company, the acquisition of a site for the development of a large-scale logistics facility of over 70,000 square meters in Tsukuba City, Ibaraki Prefecture in Japan.

Purpose of the land acquisition
The firm acquired a site of over 30,000 square meters to develop a multi-tenant logistics facility with a single rampway. This project, which is tentatively named the "LF Tsukuba New Construction Project", is targeted for completion in July 2023. Given Tsukuba City’s positioning as an academic and research city, the surrounding area has a concentration of residential and commercial facilities, universities, as well as research institutes that makes it a prime location for employment opportunities. Furthermore, the high demand for logistics services supports the development of a new, large-scale advanced logistics facility in this part of Japan.

Sustainability Initiatives
In line with the increasing focus on sustainability, the firm will acquire a CASBEE (Comprehensive Assessment System for Built Environment Efficiency) A-rank Certification and install solar power generation equipment on the roof. Sandwich panels for the exterior walls to improve heat insulation and durability will also be included in the development of the facility.

Advantages of the Development Site
Located approximately 3.5 km from Tsukuba Station on the Tsukuba Expressway, the subject site is within close proximity to various exits on the Metropolitan Inter-City Expressway (the Ken-O Expressway) and Joban Expressway. These convenient access points render the site ideal as a regional delivery base within the Ibaraki Prefecture and the wider Tokyo metropolitan and Tohoku region.

Yoshiyuki Tanaka, Senior Executive Director, Capital Markets, Cushman & Wakefield Asset Management said,
“We are very pleased to have the opportunity to develop a new logistics facility in Tsukuba City. Besides having a robust employment environment as an academic and research city, the Tsukuba area is expected to see further transportation improvements with the scheduled expansion of the Ken-O Expressway to four lanes around the Tsukuba Junction. These factors will boost the appeal of the area and complement the development of our new logistics facility. We also see the logistics sector as a key driver of growth for the Japanese economy and we will continue to expand our LF Series to support this growth.”

Cushman & Wakefield’s Logistics Facilities

The "LF" series, which stands for Logistics Facility, is a brand of logistics facilities managed by Cushman & Wakefield. Currently, we manage eight facilities nationwide, including those under development.

Property Overview

Location: 25-2 Sakuranomori, Tsukuba, Ibaraki
Land Area: 30,735 sq m
Zoning: Semi Industrial Zone
Gross Floor Area: 70,957 sq m (planned)
Structure: Steel-framed, 5 story above (planned)
Commencement: April 2022 (planned)
Completion: July 2023 (planned)
Construction Manager: Fukuda and Partners Co., Ltd.

A detailed overview of the LF Tsukuba project can be found at dedicated website:
https://www.logistics-facility.com/tsukuba/ 

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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