ESR will develop $314m logistic facility
Pan-Asian logistics group ESR is investing approximately $314m to develop a new large-scale, multi-tenant logistics facility near Tokyo.
The new property was strategically located adjacent to the boundary between Tokyo and Saitama in Greater Tokyo, which is home to some 30% of Japan’s total population, according to the group. ESR Toda Distribution Centre, will offer a total gross floor area of 86,400sqm over four storeys on a land site of 40,746sqm.
Additively, Construction is expected to begin in August 2019. It will be finished in October 2020.
Stuart Gibson, co-founder and co-CEO of ESR, said that the company had established a strategic network of prime logistics assets across the major metropolitan areas of Japan over the past decade.
This project will be the fifth managed by ESR in Saitama prefecture, a major distribution market for the Greater Tokyo region. The four existing properties are fully leased. It was estimated that only 5% of total logistics facilities in Japan were modern facilities for lease.
The emergence of the new economy, of which advanced logistics infrastructure was a major pillar, had spurred robust demand for modern, institutional grade warehouses.
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