Sun Frontier and ITOCHU Jointly Acquire Office Building in Minato Ward's Shiba

Sun Frontier Fudousan and ITOCHU Corporation jointly acquired A FRONT Shiba 2-chome Building, an office and retail property in Shiba 2-chome, Minato Ward, in May 2026. Sun Frontier Fudousan holds 70% and ITOCHU 30%. The seller was Aoyama Zaisan Networks, which provides asset consulting to individuals and companies centered on inheritance and succession as well as real estate.

The property is a five-minute walk from Mita Station on the Toei Mita and Asakusa lines and a nine-minute walk from Tamachi Station on the JR Yamanote and Keihin-Tohoku lines. Completed in 1988, the building has eight floors above ground and one basement level, with a typical floor plate of 90 tsubo (approx. 3,200 sq. ft.). Daiki, which handles contract operation of self-service stations among other businesses, has its Tokyo head office on the eighth floor.

The building was owned at completion by Doei Shinkin Bank, now Sawayaka Shinkin Bank. A trust was established in 2005, and the beneficiary rights passed to Johwa Real Estate, renamed Unizo Real Estate in 2015, in 2012 before Aoyama Zaisan Networks acquired them in April 2019. The company took over the trust assets on the same date and had held the property directly, making for a holding period of about seven years and one month. Sawayaka Shinkin Bank still operates its Tokyo Port branch on the first and second floors, remaining in the building with its role changed from owner to tenant.

In February 2026, ITOCHU announced a tender offer for Sun Frontier Fudousan shares, a subscription to a third-party allotment of new shares, and a capital and business alliance. The tender offer was completed on April 9, and Sun Frontier Fudousan became an equity-method affiliate of ITOCHU that same month, making this joint acquisition a subsequent transaction.

Key Facts

• Property Name: A FRONT Shiba 2-chome Building
• Buyers: Sun Frontier Fudousan Co., Ltd. (70% interest) / ITOCHU Corporation (30% interest)
• Seller: Aoyama Zaisan Networks Company, Limited
• Acquisition Interest: Freehold ownership
• Acquisition Date: May 29, 2026
• Location: 2-29-10 Shiba, Minato-ku, Tokyo
• Nearest Stations: Five-minute walk from Mita Station on the Toei Mita Line and Asakusa Line / nine-minute walk from Tamachi Station on the JR Yamanote Line and Keihin-Tohoku Line / 10-minute walk from Shibakoen Station on the Toei Mita Line
• Completion: December 1988
• Number of Floors: 8F / B1 (steel-reinforced concrete construction)
• Use: Office / Retail
• Area: Typical floor plate of approximately 90 tsubo (approx. 3,200 sq. ft.) / Gross Floor Area of approximately 828 tsubo (approx. 29,500 sq. ft.)