Global investment company GIC, with its headquarters in Singapore, has purchased a logistics center in Yokohama, which is a part of the Greater Tokyo metropolitan area.
According to a statement released by GIC on Friday, the asset is ideally situated within the Kanagawa Prefecture and has easy access to the entire Greater Tokyo area.
The facility was developed by Japanese real estate developer Daiwa House Industry (Daiwa House), according to the statement.
The asset, which was finished in 2022 and is fully occupied, has contemporary building specifications that can accommodate a variety of tenants.
The four-story building, which houses Daiwa House’s flagship logistics facility, is one of the company’s biggest constructions to date, covering an area of more than 126,000 square meters.
In order to increase its resistance to earthquakes, it has seismic-base isolation, and social community engagement was incorporated into its design.
These include a café, convenience store, and open deck area that are accessible to both the asset’s employees and the locals.
This deal comes after GIC acquired a number of additional logistics facilities across Japan in 2023 that were created by Daiwa House.
These comprise a portfolio of six warehouses located throughout Japan in addition to three additional warehouses in Yatomi, Takatsuki, and Tosu cities, all of which are developed and owned by Daiwa House (Greater Fukuoka, Takatsuki, and Greater Osaka).
GIC declared its continued steadfast commitment to the Japanese real estate market.
In particular, the business anticipates that supply chain optimization and e-commerce trends will fuel further growth in the demand for contemporary logistics facilities.
Noting that it has been doing business in Japan for more than 30 years, GIC added that it will keep actively pursuing investment opportunities in a variety of industries, in both the public and private markets.
