Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, has announced the beginning of the construction of LF Tsukuba, a multi-tenant logistics facility in Tsukuba City, Ibaraki Prefecture. Cushman & Wakefield Asset Management K.K. held the groundbreaking ceremony for the facility last Thursday, March 24, 2022.
The groundbreaking ceremony was attended by Mr. Kazuhiko Kuniya, Executive Officer and General Manager, Kanto Branch of HAZAMA ANDO CORPORATION, which is responsible for design and construction, and all other related parties, as well as Mr. Yoshiyuki Tanaka, President, Cushman & Wakefield Asset Management. LF Tsukuba is scheduled for completion in July 2023.
Features of the Facility
LF Tsukuba will be a five-story building with a total floor area of 71,000 square meters developed on the land of 30,000 square meters. It will be a multi-tenant logistics facility with a single rampway. The berths allow large vehicles, including 45-foot container trucks, to directly access the 1st through 4th floors. Each floor has a maximum floor space of approximately 12,000 square meters and can be divided into a maximum of eight tenants. The fourth and fifth floors are maisonette-style, with an emphasis on storage efficiency, and are connected by luggage elevators and vertical conveyors. 335 parking spaces are available to meet the needs of various tenants. The cargo receiving area including slip processing room and restrooms for up to eight tenants, and amenities such as a cafeteria and shops will be available in the common area to provide a convenient and comfortable workspace environment for facility users and drivers.
The property is located approximately 7.8 km from the Sakura-Tsuchiura exit on the Joban Expressway and approximately 8.0 km from the Tsukuba-Chuo exit on the Ken-O Expressway, making it possible to cover not only the northern Kanto and Tohoku regions, but also a wide area of the Tokyo metropolitan area without passing through central Tokyo using the Ken-O Expressway. The location is also competitive from the perspective of securing employment, as there are approximately 240,000 workers within a 30-minute radius of the proposed site.
The facility to be developed is aiming to acquire CASBEE (Comprehensive Assessment System for Built Environment Efficiency) A rank certification, BELS (Building-Housing Energy-efficiency Labelling System) 5-Star, and ZEB (Net Zero Energy Building) Ready certification. In addition to the use of highly insulated and durable sandwich panels on the exterior walls and a photovoltaic power generation system by Nippon Benex Corporation on the roof, LF Tsukuba is equipped with a 24-hour emergency power generator as a BCP (Business Continuity Plan) measure. It allows passenger elevators, electric shutters, toilets, etc. to operate for a certain period of time even during power outages. These specifications embody sustainability in commercial real estate.
Mr. Yoshiyuki Tanaka, Senior Executive Director, Capital Markets, Cushman & Wakefield Asset Management said, “I am very pleased to announce the beginning of the construction of LF Tsukuba. This facility is located where Joban Expressway crosses Ken-O Expressway, which support logistics in the Tokyo metropolitan area. We believe the facility is competitive and has a strong potential among other facilities expected in the future. We will make an impact on the environment and ESG, and will continue to contribute to the development of the local economy through the supply of high-quality properties.”
Cushman & Wakefield’s Logistics Facilities
The "LF" series, which stands for Logistics Facility, is a brand of logistics facilities managed by Cushman & Wakefield.
Facility Name: LF Tsukuba
Location: 25-2 Sakuranomori, Tsukuba, Ibaraki
Land Area: 30,735 sq m
Gross Floor Area: 71,049 sq m
Structure: Steel-framed, 5 story above
Commenced: March 2022
Completion: July 2023 (planned)
Certifications: CASBEE A rank, BELS 5-Star, ZEB Ready (planned)
A detailed outline of LF Tsukuba's plans can be found at this site.
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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 2021, the firm had revenue of $9.4 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.