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Japan Real Estate Insights by estie
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Mitsubishi Logistics to Develop 519,000-SF Multi-Tenant Distribution Facility in Hiratsuka as First Domestic Asset-Rotation Project

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Mitsubishi Logistics to Develop 519,000-SF Multi-Tenant Distribution Facility in Hiratsuka as First Domestic Asset-Rotation Project

Mitsubishi Logistics to Develop 519,000-SF Multi-Tenant Distribution Facility in Hiratsuka as First Domestic Asset-Rotation Project

Mitsubishi Logistics will develop a multi-tenant logistics facility in Hiratsuka City, Kanagawa Prefecture. The project replaces five company-owned warehouses that had been in operation since 1970, expanding the Gross Floor Area to approximately 14,600 tsubo (approx. 519,000 sq. ft.), roughly 2.8 times the previous facility size. Positioned as part of the company’s asset rotation–focused business model outlined in its management plan, the facility is scheduled for sale around FY2030 to accelerate capital recovery and enhance asset efficiency.

The building will be a four-story, steel-frame, slope-access “mezzanine-type” logistics facility with truck berths on the 1st and 3rd floors. It can be divided into as many as eight tenant units, offering approx. 12,700 tsubo (approx. 452,000 sq. ft.) of warehouse space and approx. 680 tsubo (approx. 24,000 sq. ft.) of office space. The site is located approx. 1.3 km from the Shin-Tomei Expressway’s Atsugi-Minami IC and approx. 3 km from the Tomei Expressway’s Atsugi IC, providing excellent expressway connectivity.

In the Oogami area of Hiratsuka City, large-scale logistics facilities of 10,000–tens of thousands of tsubo have been delivered since 2016, including the “MFLP Hiratsuka” series and “DPL Hiratsuka,” supported by favorable access to the Ken-O Expressway, Tomei, and Shin-Tomei routes. With major developers leading active development, the area has grown into a prominent regional distribution hub (based on “estie logistics research” analysis).

While Mitsubishi Logistics has historically used its domestic facilities primarily for in-house operations, this marks its first domestic development positioned under an asset rotation strategy. The company can also provide logistics services such as cargo handling, transportation, value-added processing, and international forwarding, creating expected synergies with its broader logistics business.

Key Facts

  • Project Owner: Mitsubishi Logistics Corporation

  • Location: Oogami, Hiratsuka City, Kanagawa Prefecture

  • Access: Approx. 1.3 km from Shin-Tomei Expressway Atsugi-Minami IC; approx. 3 km from Tomei Expressway Atsugi IC

  • Construction Start: Summer–Fall 2026 (planned)

  • Completion: Spring–Summer 2028 (planned)

  • Number of Floors: 4F

  • Structure: Slope-access mezzanine design; truck berths on 1F and 3F

  • Lot Area: Approx. 7,350 tsubo (approx. 262,000 sq. ft.)

  • Gross Floor Area: Approx. 14,600 tsubo (approx. 519,000 sq. ft.)

    • Warehouse: Approx. 12,700 tsubo (approx. 452,000 sq. ft.)

    • Office: Approx. 680 tsubo (approx. 24,000 sq. ft.)

  • Design & Construction Cost: JPY 13.2 billion

  • Other: Divisible into a maximum of 8 tenant units

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