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Tokyu Land Acquires Retail and Office Building Near Azabudai Hills

OfficeTransaction

Tokyu Land Acquires Retail and Office Building Near Azabudai Hills

Tokyu Land Acquires Retail and Office Building Near Azabudai Hills

Tokyu Land Corporation acquired the retail and office building Dai-2 Senoo Building in Azabudai 3-chome, Minato Ward, Tokyo, on September 30, 2025. The seller was Senoo Shoten Co., Ltd.

The property is a seven-story building with one basement level, constructed of reinforced concrete, and was completed in February 1971. It has a gross floor area of approximately 257 tsubo (approx. 9,180 sq. ft.). The building is located a five-minute walk from Roppongi-itchome Station on the Tokyo Metro Namboku Line and is also in close proximity to Azabudai Hills, which opened in November 2023.

Azabudai Hills is expected to attract approximately 30 million visitors annually and has already seen a series of major corporate headquarters relocations, including Mazda Motor Corporation and AIG Japan Holdings Corp. (see related articles: Mazda Relocates Headquarters and Establishes R&D Base at Azabudai Hills; AIG Japan Relocates Headquarters to Azabudai Hills). Official land prices around Azabu-Juban Station rose by 12.78% year-on-year as of 2025, marking a double-digit increase and highlighting the area’s growing appeal. Following the opening of Roppongi Hills, surrounding land values rose by approximately 165% over a 17-year period. Based on this precedent, similar long-term asset value appreciation is anticipated in the Azabudai Hills area.

Given that the property is a small-scale building approximately 55 years old, the acquisition is believed to have been made with potential future redevelopment or rebuilding in mind. In Minato Ward, activity around the renewal and reconstruction of aging properties has been intensifying, including a condominium redevelopment project in Toranomon 5-chome led by Nippon Steel Kowa Real Estate Co., Ltd. (see related article: Condominium Redevelopment Project in Toranomon 5-chome Gets Underway, Nippon Steel Kowa Real Estate).

Key Facts

  • Property Name: Dai-2 Senoo Building

  • Buyer: Tokyu Land Corporation

  • Seller: Senoo Shoten Co., Ltd.

  • Location: 3-1-4 Azabudai, Minato-ku, Tokyo

  • Nearest Station: Roppongi-itchome Station (Tokyo Metro Namboku Line), 5-minute walk

  • Completion: February 1971

  • Number of Floors: 7F / B1

  • Gross Floor Area: approx. 257 tsubo (approx. 9,180 sq. ft.)

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