Just when you thought there was no more commercial land left on which to build in Downtown Tokyo, here comes Japan Prime Realty Investment Corp. with an announcement of a planned 47 story, 2.13 million square-foot office complex on a little more than 2.5 acres.
The planned project is the most ambitious of its kind in Tokyo over the last five years, according to recent economic announcements from private and government sources. Tokyo's depressed economy has not lent itself to large commercial, residential or luxury resort development.
For the 118,777-square-foot pad itself, Japan Prime will pay $445 million or about $3,746 per square foot. (worldpropertychannel.com)
Just when you thought there was no more commercial land left on which to build in Downtown Tokyo, here comes Japan Prime Realty Investment Corp. with an announcement of a planned 47 story, 2.13 million square-foot office complex on a little more than 2.5 acres.
The planned project is the most ambitious of its kind in Tokyo over the last five years, according to recent economic announcements from private and government sources. Tokyo's depressed economy has not lent itself to large commercial, residential or luxury resort development.
For the 118,777-square-foot pad itself, Japan Prime will pay $445 million or about $3,746 per square foot. (worldpropertychannel.com)