Japan Logistics MarketView Q1 2015
- In the Greater Tokyo Area, three logistics properties were completed during Q1 2015. Two came online at full occupancy, while the third was 70% leased at completion, reflecting robust tenant demand. The vacancy rate was up 0.2 points q-o-q to 4.0%.
- In the Greater Osaka Area, two logistics properties came online with some vacant space still remaining. This contributed to the vacancy rate for the area rising 5.6 points to 6.0%. Investors and developers continue to display a strong appetite for new projects, with some additional large development projects recently being announced.
- The Greater Nagoya Area remains undersupplied but there are currently four facilities being developed in convenient locations, which should attract strong demand from tenants.