CBRE: LMT space in Tokyo Bay area to nearly double in 2H17
In its recently published 2016 Japan Outlook, CBRE Research noted that the vacancy rate for Large Multi-tenant Logistics Facilities (LMTs) in the Tokyo Bay area has risen to over 8% in late 2015 as a result of delays in the letting of one newly built facility. However the vacancy rate is expected to drop to nearly 0% over the coming two years. From 2H17, though, two redevelopment projects should virtually double the LMT stock in the Tokyo Bay area.
Source : CBRE/December 2015/Tokyo/IND