ESR announces full-building lease at new facility in Greater Tokyo
ESR Cayman Limited (ESR) has announced a new full-building lease agreement with logistics service company with Nakano Shokai Co Ltd, for 81,391 sq m at ESR Toda Distribution Centre (ESR Toda DC) in Japan.
The lease marks the first collaboration between ESR and Nakano Shokai. The tenant will move in at the beginning of October, closely on the heels of this month’s completion of the state-of-the-art facility.
“We are excited to establish this collaboration with Nakano Shokai with the close of a full-building lease at our new development in Greater Tokyo,” says Stuart Gibson, Co-founder and Co-CEO of ESR. “Recent partnerships with highly regarded companies is a testament to our strong tenant relationships, as well as industry recognition of ESR’s expertise and the premium standards that our properties have become known for.”
With a GFA of 86,950 sq m, the four-storey, double-ramped high-throughput building is a significant addition to ESR’s network of strategically located, large-scale modern facilities in the Greater Tokyo region. Its superior design allows highly scalable operational performance combined with ESR’s signature human-centric features, best-in-class building specifications, CASBEE Class A certified sustainability features and an abundance of energy-saving elements.
ESR Toda DC provides excellent access to Tokyo CBD, which is only 30 minutes away via Metropolitan Expressway and Gaikando Expressway, as well as a stable supply of skilled labour in nearby Saitama City and Kawaguchi City.
“ESR is witnessing robust demand across all major markets from new and repeat customers in the e-commerce, 3PL, cold chain and manufacturing sectors. This growth is fuelled by various drivers, including ongoing e-commerce evolution and the need for businesses to close last-mile delivery gaps while facing an acute shortage of institutional-grade properties,” added Mr. Gibson.
In the first half of 2020, the Group achieved record leasing performance of approximately 0.9 million sq m of newly leased area and maintained a high occupancy of 91 per cent across its entire portfolio despite the onset of Covid-19.