Sekisui House Real Estate Acquires Retail and Office Building in Minato Ward’s Kita-Aoyama

Sekisui House Real Estate acquired 316 Aoyama, a retail and office building in Kita-Aoyama 3-chome, Minato Ward, Tokyo, from Aoi Kaihatsu in February 2026. Aoi Kaihatsu acquired the property in June 2017 and sold it to Sekisui House Real Estate after holding it for about nine years.

The property is a six-story reinforced concrete building completed in 1973, with a Gross Floor Area of approximately 411 tsubo (approx. 14,600 sq. ft.). It is located near Aoyama-dori Avenue, a four-minute walk from Gaiemmae Station and a six-minute walk from Omotesando Station. The property was renovated while owned by Aoi Kaihatsu and is currently operated as a retail and office building that can accommodate uses including offices, salons and showrooms. Aoi Kaihatsu was founded in 1987 and currently operates around two core businesses, construction and real estate. Its real estate business includes acquiring, holding and selling income-producing properties mainly in central Tokyo, as well as purchase-and-resale operations.

On the site adjacent to the property, the Kita-Aoyama 3-Chome District Type 1 Urban Redevelopment Project is underway, with completion scheduled for 2029. The plan calls for development of a mixed-use building with 38 above-ground floors and a Gross Floor Area of approximately 54,087 tsubo (approx. 1,925,400 sq. ft.), as well as a large public plaza, on a project site of about 2.9 hectares. The project is expected to support retail and office demand in the surrounding area. The office vacancy rate across all grades within a five-minute walk of Gaiemmae Station declined from 4.65% at the end of 2023 to 1.17% at the end of April 2026, indicating that office supply-demand conditions in the area remain tight, according to an editorial department survey based on estie office research.

Key Facts

• Property Name: 316 Aoyama, formerly Koki Aoyama Mansion
• Buyer: Sekisui House Real Estate, Ltd.
• Seller: Aoi Kaihatsu Co., Ltd.
• Location: 3-1-6 Kita-Aoyama, Minato Ward, Tokyo
• Nearest Stations: Four-minute walk from Gaiemmae Station on the Tokyo Metro Ginza Line / six-minute walk from Omotesando Station on the Tokyo Metro Chiyoda Line
• Completion: January 1973
• Number of Floors: 6F (reinforced concrete)
• Gross Floor Area: Approximately 411 tsubo (approx. 14,600 sq. ft.)