Totsu Real Estate Investment Sells TRUST VALUE Ginza 1-Chome 2

Totsu Real Estate Investment (Minato-ku, Tokyo) has sold an office building in Ginza 1-Chome, Chuo-ku. The buyer was Vert Co., Ltd. (Bunkyō-ku, Tokyo), and financing involved First Commercial Bank, a Taiwan-based lender. Higashidori Real Estate Investment Company had acquired the property from Kitashōji Co., Ltd. in May 2024 and is selling it after just approximately 1 year and 3 months of ownership.

The building is an 8-story above-grade and 1-story below-grade structure of steel-reinforced concrete (SRC), completed in April 1982 with a gross floor area of approximately 219 tsubo (approx. 724 sq. m / approx. 7,792 sq. ft.). It is located on the eastern side of Ginza Chuo-dori toward Kyobashi and Shintomicho within the Ginza 1-Chome submarket. The prior owner, Kitashōji, had held the property for about 28 years since September 1996.

In Tokyo’s five central wards, the office vacancy rate had tightened to the 3% range as of January 2025, indicating a tightening supply–demand balance; however, rent bifurcation based on building age has progressed. In Chuo-ku, asking rents for new buildings completed since 2015 have been around JPY 27,000 per tsubo, while older buildings completed before 1985 remain around JPY 15,000 per tsubo—a rent spread of approximately 1.8x (based on 100–500 tsubo buildings, according to an estie market research compiled by the editorial team). Although investment demand in the Ginza area remains strong, how mid-sized buildings over 40 years old are operated for income will be watched closely.

Key Facts

• Property Name: TRUST VALUE Ginza 1-Chome 2

• Seller: Totsu Real Estate Investment

• Buyer: Vert Co., Ltd.

• Location: 1-22-9 Ginza, Chuo-ku, Tokyo, Japan

• Nearest Station: 7-minute walk to Ginza-itchome Station (Tokyo Metro Yurakucho Line)

• Completion: April 1982

• Number of Floors: 8F / B1 (Structure: SRC)

• Gross Floor Area: Approx. 219 tsubo (approx. 724 sq. m / approx. 7,792 sq. ft.)