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Cushman & Wakefield to Start Construction of LF Nara ANNEX in Nara, Aiming for Completion in July 2023

TOKYO, October 31, 2022 –Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, announced today that Cushman & Wakefield Asset Management K.K., has acquired, through a Special Purpose Company, a site for the development of a large-scale logistics facility consisting of approx. 80,000 sqm in Tsukuba City, Ibaraki Prefecture in Japan.


Exterior Image

The site with a land area of approx. 36,000 sqm will be developed into a multi-tenant logistics facility with a single rampway. This project, which is tentatively named "LF Yatabe Project", is targeted for completion in January 2025. 

Located at the junction of the Joban Expressway and the Metropolitan Inter-City Expressway (Ken-O Expressway), Tsukuba City is an ideal spot both as a wide-area distribution center serving the entire metropolitan area as well as a regional distribution center for Ibaraki Prefecture. The city's steady population growth also provides a sustained and favourable employment environment while its low risk of flooding, liquefaction, and landslides make it an excellent location from a business continuity standpoint. These favourable conditions reinforce Cushman & Wakefield’s commitment to develop another large-scale, advanced facility following its "LF Tsukuba Development Project (tentative name)," which is currently under development. 

Development Site Features
The subject property is located approx. 2 km from Midorino Station on the Tsukuba Express, offering excellent commuting convenience. It is also approx. 6 km and 10 km from the Yatabe and Yawara interchanges on the Joban Expressway, respectively, and approx. 7 km from the Tsukuba Chuo interchange on the Ken-O Expressway. The accessible transportation network facilitates convenient deliveries within Ibaraki Prefecture as well as to central Tokyo and the entire Kanto region. This accessibility is expected to be further improved in the near future, with the establishment of the "Tsukubamirai" smart interchange (tentative name) on Joban Expressway and the "Tsukuba" smart interchange (tentative name) on Ken-O Expressway.

Focus on Sustainability
The LF Yatabe project will be a sustainable facility, with the aim to achieve the CASBEE (Comprehensive Assessment System for Built Environment Efficiency) A Rank, as well as BELS (Building-Housing Energy-efficiency Labelling System) 5-Star and ZEB (Net Zero Energy Building) Ready certifications.

Yoshiyuki Tanaka, Senior Executive Director, Cushman & Wakefield Asset Management said,

Cushman & Wakefield Asset Management is delighted to have the opportunity to develop its second logistics facility in Tsukuba City, Ibaraki Prefecture. The Tsukuba area is located at the nexus of the Joban and Ken-O Expressways, and has been attracting an increasing number of logistics companies in recent years. We are proud to be able to contribute to the diverse logistics needs in the area and will continue to seek out opportunities in the broader Ibaraki Prefecture and across Japan. Furthermore, with the growing focus on Environmental, Social & Governance (ESG) initiatives, we have embedded core ESG principles in the investment and development of our high-quality facilities.”

Cushman & Wakefield’s Logistics Facilities
The "LF" series, which stands for Logistics Facility, is the logistics facilities brand managed by Cushman & Wakefield in Japan.

C&W's logistics facilities currently in the development pipeline include:

Facility Name



Land Area
(sqm - planned)

Gross Floor Area

(sqm - planned)





LF Nara

Ikoma-gun, Nara



Dec 2021

Mar 2023


Ikoma-gun, Nara



May 2022

Jul 2023

LF Tsukuba

Tukuba City,Ibaraki



Apr 2022

Jul 2023

LF Sakai-Koga

Sakai City, Ibaraki



Jul 2023

Jan 2025

LF Yatabe

Tukuba City,Ibaraki



Aug 2023

Jan 2025


Property Overview

Facility Name :                    LF Yatabe Project (tentative)
Location  :                           Midori-no-Minami,Tsukuba City, Ibaraki Prefecture
Land Area:                           Approx. 36,000 sqm
Gross Floor Area :               Approx. 80,000 sqm
Structure :                            RCS Construction, 4 stories above ground (planned)
Commencement :                August 2023 (planned)
Completion :                        January 2023 (planned)
Certification  :                 CASBEE A Rank、BELS 5 -Star、ZEB Ready certifications (planned)


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 approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit or follow @CushWake on Twitter.  


APAC Inclusive Cities Barometer
Insights • Sustainability / ESG

Inclusive Cities Barometer

Japan's major cities, particularly Tokyo, rank highly in the Inclusive Cities Barometer, showcasing strong economic inclusiveness and innovative urban planning.
Dominic Brown • 10/06/2024
LF sakaikoga rendering card image
Cushman & Wakefield Agrees to Acquire Major Logistics Development Site in Sakai, Ibaraki Prefecture

Cushman & Wakefield Agrees to Acquire Major Logistics Development Site in Sakai, Ibaraki Prefecture


LF Tsukuba rendering card image
Cushman & Wakefield to Start Construction of LF Tsukuba in Ibaraki Aiming for Completion in July 2023

Cushman & Wakefield 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.



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