Profits, Alpha Edge Capital Acquire Two Office Properties in Shibuya and Shinjuku Gyoen

Profits and Alpha Edge Capital acquired TBC Building in Higashi 2-chome, Shibuya Ward, Tokyo, and Uni-works Shinjuku Gyoen in Shinjuku 1-chome, Shinjuku Ward, in April 2026 through an SPC backed by Haseko Real Estate Development.

TBC Building is a seven-story office building completed in September 1984, with a Gross Floor Area of approximately 453 tsubo (approx. 16,100 sq. ft.). It is located a seven-minute walk from Ebisu Station on the JR Yamanote Line and Tokyo Metro Hibiya Line, and a nine-minute walk from Daikanyama Station on the Tokyu Toyoko Line. Uni-works Shinjuku Gyoen is a six-story office building with one basement level, completed in April 1985, with a Gross Floor Area of approximately 655 tsubo (approx. 23,300 sq. ft.). It is located a one-minute walk from Shinjuku-gyoemmae Station on the Tokyo Metro Marunouchi Line.

Among office buildings with typical floor plates of less than 100 tsubo located within a 10-minute walk of Ebisu Station and within a five-minute walk of Shinjuku-gyoemmae Station, vacancy rates have declined since 2024. As of April 2026, the rates stood at 3.30% and 3.02%, respectively, based on estie Office Research and research by the editorial team. Supported by locations near major central Tokyo stations, supply-demand conditions remain tight even for small and midsize office buildings.

The acquisitions are part of an initiative based on a real estate business alliance the two companies signed in April 2025. One of the partnership’s strategies is to acquire buildings in Tokyo with vacant space. In this transaction, they will renovate vacant sections of office buildings with existing tenants into shared offices. Profits will handle investment planning, asset management and operation of BLOCKS OFFICE, a shared office brand with six locations mainly in central Tokyo. Alpha Edge Capital will provide investor network and acquisition support, allowing the companies to manage the process from acquisition through operations on an integrated basis.

Key Facts

• Buyer: Profits Co., Ltd.; Alpha Edge Capital Co., Ltd. (acquired through an SPC backed by Haseko Real Estate Development Co., Ltd.)
• Operator: RJ Office Co., Ltd.
• Acquisition: April 2026
• Property Name: TBC Building
• • Seller: Undisclosed
  • Transaction Price: Undisclosed
  • Location: 2-27-10 Higashi, Shibuya Ward, Tokyo
  • Nearest Stations: 7-minute walk from Ebisu Station on the JR Yamanote Line and Tokyo Metro Hibiya Line / 9-minute walk from Daikanyama Station on the Tokyu Toyoko Line
  • Completion: September 1984 (renovated in 2019)
  • Number of Floors: 7F
  • Area: Gross Floor Area of approximately 453 tsubo (approx. 16,100 sq. ft.) / Typical Floor Plate of approximately 59 tsubo (approx. 2,100 sq. ft.)
• Property Name: Uni-works Shinjuku Gyoen
• • Seller: Undisclosed
  • Transaction Price: Undisclosed
  • Location: 1-12-5 Shinjuku, Shinjuku Ward, Tokyo
  • Nearest Station: 1-minute walk from Shinjuku-gyoemmae Station on the Tokyo Metro Marunouchi Line
  • Completion: April 1985
  • Number of Floors: 6F / B1
  • Area: Gross Floor Area of approximately 655 tsubo (approx. 23,300 sq. ft.) / Typical Floor Plate of approximately 120 tsubo (approx. 4,270 sq. ft.)