KDX Realty Investment Picks Up Major Hachioji Mall and Akishima Logistics Facility for Over JPY 32.4 Billion

KDX Realty Investment announced on December 17, 2025 that it has agreed to acquire the retail center “iias Takao” in Hachioji, Tokyo, and on the same day closed on the acquisition of the logistics facility “KDX Logistics Akishima I” in Akishima City. The combined acquisition price exceeds JPY 32.4 billion. By combining a large-scale shopping center with percentage-rent leases and a scarce mid-sized logistics asset in the growing Akishima logistics hub, the REIT aims to strengthen cash flow performance amid an inflationary environment.

“iias Takao” is one of the largest shopping centers in Hachioji, opened in 2017, with an acquisition price of JPY 26.3 billion and an appraised NOI yield of 4.4%. Developed by Daiwa House Industry as part of “Takao Sakura City,” a mixed-use redevelopment of a former semiconductor plant site, the property offers a Gross Floor Area of approx. 23,400 tsubo (approx. 77,300 sq. ft.) and houses 112 tenants. Notably, many tenants are on sales-linked leases, providing upside potential during inflationary periods. The trade area population is expected to grow, supported by two condominium towers scheduled for completion this year in the vicinity.

“KDX Logistics Akishima I,” acquired from SMFL Mirai Partners, is a mid-sized logistics facility with a purchase price of JPY 6.137 billion and an appraised NOI yield of 4.4%. The property has a Gross Floor Area of approx. 6,100 tsubo (approx. 20,200 sq. ft.) and is fully occupied. The Akishima area is gaining traction as a logistics hub, supported by the development of the large-scale “GLP Akishima Project” by GLP Japan. Located within walking distance of JR Ome Line “Akishima” Station, the asset offers strong labor accessibility and features dual-sided berths enabling both DC and TC operations—an increasingly rare specification.

Upon completion of the transactions, the REIT’s portfolio will comprise 344 assets with a total acquisition cost exceeding JPY 1.2208 trillion.

Key Facts

• Buyer: KDX Real Estate Investment Corporation

• Sale and Purchase Agreement Date: December 17, 2025

• iias Takao

  • Acquisition Price: JPY 26,300 million

  • Appraised Value: JPY 26,800 million

  • Appraised NOI Yield: 4.4%

  • Location: 550-1 Higashi-Asakawa-cho, Hachioji, Tokyo

  • Nearest Station: JR Chuo Line / Keio Line “Takao” Station, approx. 6-minute walk

  • Completion: 2017

  • Number of Floors: 3F

  • Gross Floor Area: approx. 23,400 tsubo (approx. 77,300 sq. ft.)

  • Occupancy: 99.4% (as of end-Oct 2025)

  • Scheduled Acquisition Date: January 16, 2026

• KDX Logistics Akishima I

  • Seller: SMFL Mirai Partners Co., Ltd.

  • Acquisition Price: JPY 6,137 million

  • Appraised Value: JPY 6,740 million

  • Appraised NOI Yield: 4.4%

  • Location: 3927-7 Daikanyama 1-chome, Akishima, Tokyo

  • Nearest Station: JR Ome Line “Akishima” Station, walking distance

  • Completion: 2001

  • Number of Floors: 4F

  • Gross Floor Area: approx. 6,100 tsubo (approx. 20,200 sq. ft.)

  • Occupancy: 100.0%

  • Acquisition Date: December 17, 2025