TOKYO, August 1, 2023 – Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, has announced the beginning of the construction of LF Yatabe, a logistics facility in Tsukuba City, Ibaraki Prefecture. The development site for this facility was acquired by Cushman & Wakefield Asset Management K.K. (hereafter referred to as CWAM), through a Special Purpose Company in October 2022.
Exterior Image
The groundbreaking ceremony held on 27th July 2023 was attended by representatives from all related parties including Katsuaki Kamada, Director, Managing Executive Officer and General Manager of the Tokyo Head Office of Konoike Construction Co., Ltd., the company responsible for design and construction, and Yoshiyuki Tanaka, Senior Executive Director, Capital Markets, Cushman & Wakefield Asset Management. LF Yatabe is scheduled for completion in January 2025.
Features of the Facility
LF Yatabe will be constructed as a multi-tenant logistics facility with a four-storey above-ground ramp on a site of approximately 36,000 sqm. It will have a pillar span of 11 m (frontage) x 10 m (depth), an effective height of 5.5 m under the warehouse beams, a floor loading capacity of 1.5 t/sqm, and will be equipped with 6 cargo elevators and 12 vertical conveyors. The warehouse space, which will be divided into two combined floors can accommodate up to 6 tenants. The facility will flexibly meet the various needs of tenants by providing approximately 160 parking spaces for standard vehicles and 7 truck waiting spaces, as well as the electrical capacity to accommodate the installation of air conditioning throughout the warehouse. In addition, the building will have a cafeteria and stores to provide a comfortable space for workers and drivers in the facility.
Location Characteristics
The subject property is located approx. 2 km from Midorino Station on the Tsukuba Express, offering excellent commuting convenience. It is also approx. 6 km and 10 km from the Yatabe and Yawara interchanges respectively on the Joban Expressway, and approx. 7 km from the Tsukuba Chuo interchange on the Ken-O Expressway. The accessible transportation network facilitates convenient deliveries within the Ibaraki Prefecture as well as to central Tokyo and the entire Kanto region. This accessibility is expected to be further improved in the near future, with the establishment of the "Tsukubamirai" smart interchange (tentative name) on Joban Expressway and the "Tsukuba" smart interchange (tentative name) on Ken-O Expressway. In addition, the "Ken-O Expressway Interpark Tsukuba Mirai" industrial park (development area: approx. 70.3 ha) is scheduled to be completed in 2023 on an adjacent site, which is expected to further increase industrial concentration in the subject area.
Focus on Sustainability
Groundbreaking Ceremony
Yoshiyuki Tanaka, Senior Executive Director, CWAM said, “We are very pleased to announce the successful construction commencement of LF Yatabe. The importance of Tsukuba City, where this facility is located has increased in recent years and there is tremendous growth potential driven by continued population influx into the city. CWAM is proud to be part of Tsukuba City's community through the development of LF Yatabe and we are committed to contribute to the further expansion of the local economy and promotion of its industrial base status.”
Cushman & Wakefield’s Logistics Facilities
The "LF" series, which stands for Logistics Facility, is the branded logistics facilities managed by Cushman & Wakefield in Japan.
C&W's planned development facilities are as follows
|
Facility Name |
Location |
Land Area |
Gross Floor Area (approx. | sqm) |
Commencement |
Completion |
|
Ikoma-gun, Nara |
58,000 |
124,000 |
Dec 2021 |
Mar 2023 |
|
|
Ikoma-gun, Nara |
19,000 |
37,000 |
May 2022 |
Jul 2023 |
|
| LF Tsukuba External Link | Tsukuba City, Ibaraki | 30,000 | 71,000 | Apr 2022 | Jul 2023 |
| Kazo City, Saitama | 27,000 | 27,000 | Apr 2023 |
May 2024 |
|
|
Sakai City, Ibaraki |
50,000 |
113,000 |
Jul 2023 |
Jan 2025 |
|
|
Tukuba City,Ibaraki |
36,000 |
80,000 |
Aug 2023 |
Jan 2025 |
* Facility names are tentative. The indicated area sizes are planned.
Property Overview
Facility Name : LF Yatabe (tentative)
Location : Midori-no-Minami, Tsukuba City, Ibaraki Prefecture
Land Area: Approx. 36,000 sqm
Use Zone : Industrial Zone
Gross Floor Area : Approx. 80,000 sq m (planned)
Structure : 4 stories above ground, RCS Construction, Partly S Counstruction
Commencement : August 2023 (planned)
Completion : January 2025 (planned)
Certification : CASBEE A Rank, BELS 5 -Star, ZEB Ready certifications (planned)
Design and Construction : Konoike Construction Co., Ltd.
Construction Manager : Fukuda & Partners Inc.
Please click here External Link for more details about LF Yatabe.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
