Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, has announced the beginning of the construction of LF Nara ANNEX, a multi-tenant logistics facility in Ikoma-gun, Nara Prefecture. Cushman & Wakefield Asset Management K.K. held the groundbreaking ceremony for the facility on 27th April 2022.
Exterior view of ”LF Nara ANNEX” Kosuke Ogi of CWAM (right) at
The groundbreaking ceremony was attended by Akihiro Toyota, Managing Executive Officer of Asanuma Corporation Osaka Head Office, which is responsible for the design and construction of the development, and other related parties, including Kosuke Ogi, Executive Director of Cushman & Wakefield Asset Management K.K. LF Nara ANNEX is scheduled for completion in July 2023.
Features of the Facility
"LF Nara ANNEX" will be constructed as a multi-tenant logistics facility with 4 floors above ground and a total floor area of approximately 37,600 square meters. The pillar span has a frontage of 11.5m x depth of 9.5m, an effective height under the beam of the warehouse of 5.5m, a floor load of 1.5t / ㎡, 4 luggage elevators and 4 vertical conveyors (additional 2 conveyors can be installed where required). It is a box-type warehouse distribution facility that can be expanded in the future. The tenant area can accommodate up to 4 tenants, and can be configured with a minimum area of about 7,900 square.meters to about 3,700 square.meters. within the building, enabling efficient cargo handling operations and meeting of tenant needs with an emphasis on storage functions. In addition, a break room will be set up in the common area as an amenity to provide a convenient and comfortable environment for facility users.
The property is located approximately 1.5 km from the Yamato-Mahoroba Smart exit on the Nishi-Meihan Expressway and approximately 3 km from the Horyuji exit on the same expressway. It is situated in an area with a high concentration of industrial firms near Showa Industrial Park, the largest industrial park in Nara Prefecture, and is expected to become a major regional distribution hub within the prefecture and the wider Osaka, Kyoto, and Nagoya region. The location is also competitive from the perspective of employment opportunities , as there is a working population of approximately 460,000 people within 30 minutes of the proposed site.
The facility is aiming to acquire CASBEE (Comprehensive Assessment System for Built Environment Efficiency) A Rank, BELS (Building Energy Efficiency Labeling System) 5-star certification, and ZEB (Net Zero Energy Building) Ready certifications. LF Nara ANNEX will be an embodiment of sustainability in commercial real estate, with the installation of solar power generation equipment on the roof. The facility also plans to install a 24-hour emergency power generator for Business Continuity Planning (BCP) purposes.
Yoshiyuki Tanaka, Senior Executive Director, Capital Markets, Cushman & Wakefield Asset Management K.K. said, ““I am very pleased that Cushman & Wakefield Asset Management has begun construction of the second logistics facility in Nara prefecture after LF Nara. Nara prefecture has huge potential as a key logistics hub in Japan. We are confident that we will be able to meet a wide variety of logistics needs through LF Nara ANNEX, which emphasizes storage efficiency and LF Nara, which features a double ramp way. With the development of these two buildings, we will contribute to job creation and local economic development in the Nara prefecture."
Cushman & Wakefield’s Logistics Facilities
The "LF" series, which stands for Logistics Facility, is the branded logistics facilities managed by Cushman & Wakefield in Japan. From value-added existing facilities to brand-new developments, the LF portfolio consistently provides high-quality infrastructure to support the Japanese logistics industry.
Facility Name : LF Nara ANNEX
Location : 367-19 Okasaki, Ando, Ikoma District, Nara
Land Area: 19,300 sq m
Gross Floor Area : 37,600 sq m
Structure : Steel-framed,4 stories above ground
Commencement : May 2022
Completion : July 2023 (planned)
Certification : CASBEE A rank (new construction) certification, BELS 5 star, ZEB Ready certification (all planned)
Design and construction: Asanuma Corporation
A detailed outline of LF Nara's plans can be found at this site.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.