Kasumigaseki Capital Acquires Hakata Office Building for Conversion

FHG HOTELS, a consolidated subsidiary of Kasumigaseki Capital, acquired Grand Tower Nishi-Hakata Building in Sumiyoshi 4-chome, Hakata Ward, Fukuoka, on September 1, 2026. FHG HOTELS will own the building and plans to convert it.

Completed in 2000, the building has 10 floors above ground and one below, with a typical floor plate of approximately 178 tsubo (approx. 6,300 sq. ft.). Formerly known as DOCOMO Kyushu Sumiyoshi Building, it was built by NTT Mobile Communications Network Kyushu (now NTT DOCOMO) and used as a head office for group companies, among other purposes, but became vacant after the head office functions moved to a base in Yakuin.

In March 2025, Fukuoka office251 LLC acquired the building and Jinushi acquired the underlying land. Fukuoka office251 is an affiliate of Saint Bene Management, which is engaged in real estate brokerage and other businesses, and had planned to renovate the building into a mixed-use property combining a fee-based nursing home with care services and offices. Maxvalu Express Sumiyoshi 4-chome opened on the first floor in April 2026, but most of the building apart from the low-rise retail floors remained unused.

In the latest transaction, ownership of the land moved from Jinushi to ITOCHU Property Development, and FHG HOTELS established a 30-year fixed-term business-use land lease on the same day. The 50-year fixed-term land lease that Fukuoka office251 had established in 2025 has been cancelled.

Kasumigaseki Capital's group operates hotel brands including fav, FAV LUX and seven x seven. The property is in the Sumiyoshi area between Hakata and Tenjin, about a six-minute drive from JR Hakata Station. Nearby, Hotel Trad Hakata, with 209 guest rooms, opened in August 2020.

Key Facts

• Property Name: Grand Tower Nishi-Hakata Building
• Building Buyer: FHG HOTELS Co., Ltd.
• Previous Building Owner: Fukuoka office251 LLC (acquired in March 2025)
• Land Buyer: ITOCHU Property Development, Ltd.
• Previous Land Owner: Jinushi Co., Ltd. (acquired in March 2025)
• Transaction Date: September 1, 2026
• Land Lease: Fixed-term business-use land lease (30-year term; lessee: FHG HOTELS Co., Ltd.)
• Location: 4-29-22 Sumiyoshi, Hakata Ward, Fukuoka, Fukuoka Prefecture
• Nearest Station(s): 11-minute walk from Watanabe-dori Station on the Fukuoka City Subway Nanakuma Line / 14-minute walk from Yakuin Station on the Fukuoka City Subway Nanakuma Line and the Nishitetsu Tenjin Omuta Line
• Completion: March 2000
• Number of Floors: 10F / B1 (steel-reinforced concrete construction)
• Area: Typical floor plate of approximately 178 tsubo (approx. 6,300 sq. ft.) / Gross Floor Area of approximately 2,617 tsubo (approx. 93,100 sq. ft.)