Phoenix viewed the Tokyo office market as attractive investment
opportunity, given the stable economic growth in Japan and the
shortage of office space in Tokyo.
The 8-storey office building is strategically located in the heart
of Ikebukuro, the gateway for the North-West of Greater Tokyo.
Ikebukuro has been undergoing major transformation in recent years
which we believe will drastically diversify the demographics of
the area.
Given its proximity to Metro Ikebukuro Station, the world’s third
busiest railway station which connects Tokyo’s major city centers
and the low office vacancy has been putting upward pressure on
office rents in the area, Phoenix saw the potential in this
property and seized this investment opportunity.
After the property was fully leased in 2021, Phoenix sold the
property to a Singapore-based property management company.
