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Toranomon Sakura Toranomon Sakura

Stories

Leasing the Toranomon Sakura Building

01 The Challenge

The occupancy rate at the end of October 2015 after NIPPON REIT Investment Corporation acquired the Toranomon Sakura Building was 48.5%. As the occupancy rate did not rise despite completing a renewal and there being no issues in terms of facilities and quality grade under the previous owner, in September 2016 they decided to engage Cushman & Wakefield, for leasing management expertise.

02 The Solution

When Cushman & Wakefield initially undertook this, building renewal had already been completed, turning it into a high-grade building. We therefore proposed changing the leasing strategy rather than the hardware to increase the occupancy rate. More specifically, we proposed splitting recruitment around 100m2 each, which was predicted to have the highest demand, without depending on recruiting for an entire floor or large lot. Furthermore, we provided the know-how when attracting tenants to split small lots.

03 The Result

While the occupancy rate when we undertook this project was around 60%, Cushman & Wakefield achieved a 100% occupancy rate in only 6 months after being entrusted with leasing management, contributing to a higher return. Subsequently, whenever a vacancy arises, Cushman & Wakefield has engaged to successfully attract tenants in a short period of time, maintaining a 100% occupancy rate.

Meet the Team

Naotaka-Yamafuji_Headshot_JP
Naotaka Yamafuji

Director
Chiyoda-ku, Japan


WE’RE ON HAND TO HELP

Contact us to discuss how our experience on this project could be translated to your business requirements.

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