The very first stage of Mapletree Chikushino Logistics Centre is to be finished this month (Image: Mapletree) Singapore’s Mapletree Investments has actually made its very first venture into the logistics market of Japan’s third-largest island of Kyushu with the advancement of a storage facility near Fukuoka. The very first stage of Mapletree Chikushino Logistics Centre is nearing conclusion this month and will use 110,744 square metres (1.2 million square feet) of overall flooring location, Mapletree stated Wednesday in a release. Mapletree has actually built up more than S$ 1.6 billion ($1.2 billion) in income-yielding logistics homes throughout Japan, with the sector turning into among the best-performing and most resistant sectors for the Temasek-owned investor, stated Wong Mun Hoong, Mapletree’s local CEO for Australia and North Asia. “This consistent development verifies our choice to broaden our portfolio into the Kyushu logistics market,” Wong stated. “Completing our brand-new advancement in Kyushu will enhance our grip in 7 out of the 8 areas in Japan and supply more chances to bring worth to the nation’s logistics sector.” Expressway Access Mapletree Chikushino Logistics Centre Phase 1 is a four-storey, double-ramp storage facility situated one minute by vehicle from the Kyushu Expressway, 20 minutes from Fukuoka Airport and 30 minutes to the southeast of Fukuoka’s main downtown. The location is designated for massive circulation services utilizing the expressway’s Chikushino Interchange. Mapletree’s Wong Mun Hoong and Osamu Pedro Ebinuma provide the huge news (Image: Mapletree) “We think the tactical place of this center will be favorable in supporting the warehousing requirements of such circulation business,” stated Osamu Pedro Ebinuma, CEO of Mapletree Japan. “As of today, the advancement has actually drawn in strong interests from 3PL business and others.” The center is positioned on a land plot determining 116,319 square metres, which enables the advancement of storage facilities with a gross flooring location of 231,648 square metres, according to Mapletree, which obtained the website for a concealed cost in 2020 for what it referred to as a $411 million job. The 2nd storage facility is anticipated to be finished around the very first half of 2024. Mapletree has S$ 3.9 billion in possessions under management in Japan, consisting of logistics, workplace, retail and accommodations homes, and S$ 77.4 billion in around the world AUM. Sheds Stay Hot Another Singapore-headquartered contractor, GLP, revealed last month that its Japan Development Partners IV fund had actually gotten a plot in a western suburban area of Tokyo for the most recent super-sized logistics center in the commercial expert’s Alfalink series. At 350,000 square metres, the land purchase for GLP Alfalink Akishima is among the biggest ever for a logistics advancement in Japan. The prepared gross flooring location of 800,000 square metres positions the job in the exact same mega-scale tier as GLP Alfalink Nagareyama (900,000 square metres throughout 8 structures) and the just recently finished GLP Alfalink Sagamihara (680,000 square metres throughout 4 structures). In May, Tokyo-listed GLP J-REIT exposed strategies to get 3 storage facilities throughout Japan and a partial stake in a 4th shed for an overall factor to consider of JPY 58.2 billion ($420 million). A month previously, Singapore sovereign wealth fund GIC revealed its purchase of 6 Japanese storage facilities from personal equity giant Blackstone for more than $800 million.
Mapletree Expands Japan Logistics Portfolio into Kyushu with Fukuoka Warehouse
