Deka Immobilien has successfully sold its German Industry Park (GIP) in Yokohama, Japan, after a holding period of more than 17 years. The buyer is Godo Kaisha Hakusan, set up by a consortium of several Japanese institutional investors. The transaction was executed from the real estate assets of the open-ended real estate fund Deka-ImmobilienGlobal.
With this sale, the fund management is taking advantage of the favourable market situation in Japan to dispose of an older property as part of its active portfolio management strategy. Investors achieved a significant profit from the sale over the entire holding period. The generated liquidity is to be reinvested promptly to take advantage of countercyclical investment opportunities.
Completed in 1987, the German Industry Park comprises a rentable area of approx. 15,600 sqm and offers 107 parking spaces. The property is fully leased to 24 tenant companies from the industrial, technology and manufacturing sectors and combines modern office space with flexible areas for research, development, manufacturing, product presentation and storage. Additional amenities such as a restaurant, a cafeteria and training rooms further enhance the appeal of the location. The five-story building features distinctive architecture and an impressive multi-level, light-filled entrance hall.
GIP is located in the established Hakusan High-Tech Park in Yokohama, Japan’s second-largest city, approximately 10 km from the city center and 20 km from Tokyo-Haneda International Airport. The region is home to more than 300 research institutes and over 6,000 manufacturing companies. The connectivity is excellent: in addition to the nearby Shin-Yokohama Shinkansen station, the site benefits from access to the high-speed line between Tokyo and Osaka, which operates at 10-minute intervals. The Kamoi train station, within walking distance, further enhances accessibility.
