Mapletree Acquires Mixed-Use Facility Comprising Data Centre in Tokyo, Japan

Mapletree Industrial Trust Management (MIT) has announced the acquisition of a mixed-use facility in Tokyo, Japan, for JPY 14.5 billion (approximately SGD 129.8 million). The property, located in Tama-shi, includes a data center, back office, training facilities, and an adjacent accommodation wing, with an effective interest of 98.47 percent acquired through a conditional agreement with Nagayama Tokutei Mokuteki Kaisha, an unrelated third-party vendor.

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Facility Details

The facility spans approximately 91,200 sq ft of land and has a gross floor area of 319,300 sq ft, fully leased to an established Japanese conglomerate with a weighted average lease expiry of about five years, the company noted.

MIT said, “The addition of a freehold property will enhance the portfolio’s geographical and income diversification. Its strategic location in West Tokyo, a key data center cluster in Greater Tokyo, will provide a future redevelopment opportunity for a new data center. This future redevelopment will benefit from the robust demand for data centers, as well as the tight supply and limited development opportunities in West Tokyo.”

Demand for Data Centers

The demand for data centers in West Tokyo has surged, contributing to a decline in the vacancy rate from 23 percent in 2018 to 9 percent in 2023, with expectations that it will tighten to 6 percent by 2033, according to a report cited in the official release.

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