Totsu Tatemono Sells Akihabara Small Office Asset to Local Owner LUGEND

Totsu Tatemono has sold the office-and-retail property “Safran Building No. 2” located in Kanda Izumicho, Chiyoda Ward. The buyer is LUGEND Inc., whose headquarters are also in Kanda Izumicho—making this a purchase of a property adjacent to its base of operations. Totsu Tatemono had acquired the asset in November 2024, resulting in a resale after roughly ten months.

The building is a five-story reinforced-concrete structure completed in January 1973, with a Gross Floor Area of approx. 55 tsubo (approx. 1,950 sq. ft.). It is a two-minute walk from Akihabara Station on the JR Yamanote Line, Keihin-Tohoku Line, and Tokyo Metro Hibiya Line. As a 52-year-old, pre-1981 seismic-standard property, the acquisition may present LUGEND with a redevelopment opportunity.

In the Akihabara micro-market, small office rents show a notable gap: older buildings (completed before 1985) command rents in the JPY 13,000 per tsubo range, while newer buildings (completed 2020 or later) are achieving around JPY 25,000 per tsubo. Given this rent spread, redevelopment could unlock meaningful rental upside (based on estie market research).

Key Facts

• Property Name: Safran Building No. 2

• Seller: Totsu Tatemono Co., Ltd.

• Buyer: LUGEND Inc.

• Location: 1-3-5 Kanda Izumicho, Chiyoda-ku, Tokyo

• Nearest Station: Akihabara Station (JR Yamanote Line, JR Keihin-Tohoku Line, Tokyo Metro Hibiya Line), 2-minute walk

• Completion: January 1973

• Number of Floors: 5F (Reinforced Concrete Structure)

• Gross Floor Area: approx. 55 tsubo (approx. 1,950 sq. ft.)