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Office Transactions & Cap Rates in Chuo

51 transactions from J-REIT timely disclosuresLast updated: July 18, 2026 (refreshed weekly)

Transactions

51

Median CR (last 12 months)

3.30%

CR range (last 3 years)

3.3–4.3%

Avg. price (all time)

52.4×¥100M

5 Office transactions in Chuo were disclosed in the last 12 months, with a median cap rate of 3.30%. That is 40bps lower than a year earlier.

Cap rate trend (monthly median)

3.0%3.5%4.0%4.5%202520262024/01: 3.70%(1)2024/04: 4.30%(1)2024/06: 4.20%(1)2024/07: 3.70%(3)2025/03: 3.50%(1)2025/05: 3.90%(1)2026/01: 3.30%(1)2026/03: 3.30%(3)3.30%4.30%3.30%

Calculated from disclosed cap rates (appraisal NOI yield). See the table below for individual sources.

All transactions (51)

DatePropertyPriceCap rateAgeSource
2026/07Tsukiji Front12.5×¥100M3.70%35REIT-IR
2026/03Nihonbashi Honcho M-SQUARE321.1×¥100M3.30%1REIT-IR
2026/03Harumi Island Triton Square Office Tower Z86.0×¥100M3.50%25REIT-IR
2026/03Circles Nihonbashi Hamacho34.9×¥100M3.30%2REIT-IR
2026/01Shinkawa Itchome Building21.3×¥100M3.30%37REIT-IR
2025/06Shiodome East Side Building (20% undivided co-ownership)33.6×¥100M19REIT-IR
2025/05FORECAST Shin-Tokiwabashi27.0×¥100M3.90%34REIT-IR
2025/03FORECAST Shintokiwabashi27.0×¥100M35REIT-IR
2025/03Urbanex Ginza Higashi II17.5×¥100M7REIT-IR
2025/03H1O Nihonbashi Kobunacho40.0×¥100M5REIT-IR
2025/03H'O Nihonbashi Kobunacho40.0×¥100M3.50%5REIT-IR
2024/12Shinto GINZA EAST16.9×¥100M34REIT-IR
2024/07Harumi Island Triton Square Office Tower Y228.2×¥100M3.70%23REIT-IR
2024/07Higashi-Nihonbashi Project (Tentative Name)125.0×¥100M4.10%0REIT-IR
2024/07Kyobashi Project (Tentative Name)99.8×¥100M3.60%0REIT-IR
2024/06Nihonbashi Playa Building17.0×¥100M4.20%15REIT-IR
2024/04HF Nihonbashi Hamacho Building17.6×¥100M4.30%37REIT-IR
2024/04S-GATE Nihonbashi Honcho74.5×¥100M6REIT-IR
2024/02S-GATE Nihonbashi Honcho74.5×¥100M7REIT-IR
2024/02A-72 Hatchobori Rivergate8.8×¥100M36REIT-IR
2024/01Harumi Front176.0×¥100M3.70%12REIT-IR
2023/04Round Cross Tsukiji40.5×¥100M32REIT-IR
2023/04Harumi Front117.3×¥100M3.70%11REIT-IR
2023/03Kumamoto East Front Building14.5×¥100M4.70%30REIT-IR
2022/12Harumi Front97.8×¥100M3.70%10REIT-IR
2022/11Tokyu Ginza Nichome Building89.7×¥100M3.50%14REIT-IR
2022/09Nomura Real Estate Higashi-Nihonbashi Building22.6×¥100M4.10%32REIT-IR
2022/05Harumi Center Building243.3×¥100M3.80%16REIT-IR
2021/12Tenjin Prime1.1×¥100M3.50%REIT-IR
2021/12Tenjin Prime (Land)1.1×¥100M3.50%REIT-IR
2021/09Shinkawa 1-chome Building21.0×¥100M3.60%32REIT-IR
2021/09Hakozaki 314 Building17.7×¥100M3.80%30REIT-IR
Show transactions older than 5 years (19)
DatePropertyPriceCap rateAgeSource
2021/06Tenjin Nishidori Business Center (Chikuji)77.0×¥100M3.50%REIT-IR
2021/03UUR Kyobashi East Building72.8×¥100M3.30%4REIT-IR
2021/03Kabutocho Uni-Square14.8×¥100M4.40%28REIT-IR
2021/03Across Shinkawa Building5.0×¥100M6.70%27REIT-IR
2020/11Tsukiji Front8.3×¥100M30REIT-IR
2020/01Kodenmachonihonbashi Building34.5×¥100M4.00%29REIT-IR
2018/07Yusen Higashi-Nihombashi Ekimae Building11.5×¥100M18REIT-IR
2018/02Nihonbashi Hamacho Park Building14.5×¥100M4.30%26REIT-IR
2018/01Nihonbashi Hamacho Park Building14.5×¥100M27REIT-IR
2017/05Starts Proceed Investment Corporation41.9×¥100M29REIT-IR
2015/07FORECAST Kayabacho30.0×¥100M26REIT-IR
2015/02FORECAST Ningyocho PLACE16.5×¥100M32REIT-IR
2015/02Pigeon Building28.4×¥100M27REIT-IR
2015/02FORECAST Ningyocho20.7×¥100M26REIT-IR
2014/10Proceed Nihonbashi Horidomecho14.9×¥100M9REIT-IR
2014/04Green Oak Kayabacho28.6×¥100M25REIT-IR
2013/03D-Wing Tower28.0×¥100M8REIT-IR
2013/02Tenjin Nishi Dori Center Building26.0×¥100M18REIT-IR
2006/09Amex Akasaka Gate Tower20.6×¥100M2REIT-IR

FAQ

What is the average cap rate for Office in Chuo?

The median cap rate across 5 J-REIT disclosed transactions in the last 12 months is 3.30% (as of July 18, 2026, appraisal NOI yield basis).

What is the data source?

Disclosure PDFs from TDnet (Tokyo Stock Exchange timely disclosure) and official J-REIT IR pages. Every record links to its source.

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