Japan Prime Realty Sells Housing Design Center Kobe for JPY 7.24 Billion
Japan Prime Realty Investment Corporation will dispose of the retail property “Housing Design Center Kobe” in Chuo Ward, Kobe City. The sale price is JPY 7.24 billion, with closing scheduled for November 28, 2025.
The property is a one-minute walk from JR Kobe Station and is located within the Kobe Harborland redevelopment area. Completed in June 1994, the building has two basement levels and 11 stories above grade, with a gross floor area of approximately 10,250 tsubo (approx. 365,000 sq. ft.). The asset is currently fully leased. Operated as a housing-related showroom complex, it houses around 70 showroom units dedicated to residential equipment and interior products, with exhibition space totaling roughly 5,750 tsubo (approx. 205,000 sq. ft.). The “Housing Design Center” concept, planned and operated by ABC Kaihatsu, is rolled out at only two locations—Kobe and Osaka—and follows a business model focused on prime, station-front urban sites.
Taking into account the building’s age and the limited upside for future income growth, the REIT has elected to sell into a favorable transaction market. The e-commerce penetration rate in the household goods, furniture and interior category has risen from the mid-15% range in 2014 to the mid-30% range in 2024, according to surveys by the Ministry of Economy, Trade and Industry, signaling a shifting environment for brick-and-mortar showroom facilities.
Meanwhile, the area around Kobe Station is undergoing a major redevelopment of the station plaza targeted for completion around 2030, including construction of an underground tower-type bicycle parking facility and reconfiguration of the bus rotary. Kobe Harborland opened in 1992 as a large-scale mixed-use complex; this property, one of its key components, commenced operations in 1994 and marked its 30th anniversary in 2024. Given its prime station-front location and positioning as an experience-based showroom facility, market participants are watching how a new owner will reposition and operate the asset.
Key Facts
Property Name: Housing Design Center Kobe (HDC Kobe)
Buyer: Not disclosed
Seller: Japan Prime Realty Investment Corporation
Transaction Price: JPY 7.24 billion
Address: 1-2-2 Higashikawasakicho, Chuo-ku, Kobe-shi, Hyogo
Nearest Station: JR Kobe Station, 1-minute walk
Completion: June 1994
Number of Floors: 11F / B2
Site Area: approx. 1,210 tsubo (approx. 43,100 sq. ft.)
Gross Floor Area: approx. 10,250 tsubo (approx. 365,000 sq. ft.)