Sun Frontier Sells Office Building in Ebisu

Sun Frontier Fudousan sold Gran First Ebisu, an office building in Higashi 3-chome, Shibuya Ward, Tokyo, in March 2026. The buyer was Ebisu Properties LLC, which was established in February 2026.

Completed in 1991, the eight-story building has a typical floor plate of approximately 62 tsubo (approx. 2,200 sq. ft.). A convenience store occupies the ground floor, and the office floors are delivered fully set up. The property is a five-minute walk from Ebisu Station and a nine-minute walk from Daikanyama Station, and is also within walking distance of Shibuya Station.

Average asking rents for office buildings within a five-minute walk of Ebisu Station with typical floor plates of less than 100 tsubo (approx. 3,600 sq. ft.) have continued to climb, reaching about JPY 22,250 per tsubo as of July 2026 (compiled by the editorial team based on estie office research).

Sun Frontier Fudousan runs a replanning business in which it acquires existing small and midsize office buildings, raises their value through renovation and leasing, and then sells them. The average project period for the replanning properties it sold in the fiscal year ended March 2026 was 874 days. For this property, the period from acquisition to disposition was about two years and two months, or 801 days.

Key Facts

• Property Name: Gran First Ebisu (former name: Shibuya Matsubara Building)
• Seller: Sun Frontier Fudousan Co., Ltd.
• Buyer: Ebisu Properties LLC
• Transaction Type: Real estate trust beneficiary interest
• Disposition Date: March 30, 2026
• Location: 3-22-14 Higashi, Shibuya-ku, Tokyo
• Nearest Station(s): Five-minute walk from Ebisu Station on the Tokyo Metro Hibiya Line and the JR Saikyo Line / Shonan-Shinjuku Line / Six-minute walk from Ebisu Station on the JR Yamanote Line / Nine-minute walk from Daikanyama Station on the Tokyu Toyoko Line / 10-minute walk from Shibuya Station on the JR lines, Tokyo Metro lines, Tokyu Toyoko and Den-en-toshi Lines and the Keio Inokashira Line
• Completion: April 1991
• Number of Floors: 8F (steel-reinforced concrete construction)
• Area: Typical floor plate of approximately 62 tsubo (approx. 2,200 sq. ft.) / Gross Floor Area of approximately 538 tsubo (approx. 19,100 sq. ft.)
• Annex Building: Parking of approximately 13 tsubo (approx. 500 sq. ft.)
• Seller's Acquisition Date: January 19, 2024