Mitsubishi Estate Acquires “Air Water Building” in Osaka’s Minamisemba District

In March 2025, Mitsubishi Estate Co., Ltd. acquired the “Air Water Building,” an office property located in Minamisemba 2-chome, Chuo Ward, Osaka City. The seller was Air Water Inc., a Tokyo Stock Exchange Prime-listed materials conglomerate. The transaction price was not disclosed.

The building is a steel-framed, 11-story office structure completed in February 2009. It offers a gross floor area of approx. 1,517 tsubo (approx. 50,130 sq. ft.) with a regular floor plate of approx. 148 tsubo (approx. 4,895 sq. ft.), known for its efficient, rectangular leasing layout. The property enjoys excellent accessibility—just a 5-minute walk from Shinsaibashi Station on the Osaka Metro Midosuji Line and 2 minutes from Nagahoribashi Station on the Sakaisuji Line.

Air Water Inc., whose core business is industrial gas, has diversified into energy, healthcare, and agri-foods, reporting consolidated revenue of JPY 1.0759 trillion for the fiscal year ending March 2025, and employing around 21,000 people. The company currently uses the building as its group headquarters but plans to relocate to “Grand Green Osaka” in April 2026. Until then, it is expected to remain in the building as a tenant.

Mitsubishi Estate has not disclosed the purpose of the acquisition. Given the building’s relatively recent construction, redevelopment seems unlikely, and market watchers are closely observing the company’s future asset management strategy.

Key Facts

• Property Name: Air Water Building

• Buyer: Mitsubishi Estate Co., Ltd.

• Seller: Air Water Inc.

• Transaction Price: Not disclosed

• Location: 2-12-8 Minamisemba, Chuo-ku, Osaka, Japan

• Nearest Stations:

  • 3-minute walk from Nagahoribashi Station (Osaka Metro Nagahori Tsurumi-ryokuchi Line)

  • 5-minute walk from Shinsaibashi Station (Osaka Metro Midosuji Line)

• Completion: February 2009

• Number of Floors: 11F

• Gross Floor Area: approx. 1,517 tsubo (approx. 50,130 sq. ft.)