CBRE Record new supply of LMT space in Greater Tokyo through 2016-17
In its recently published 2016 Japan Outlook, CBRE Research observed that the vacancy rate for Large Multi-tenant Logistics Facilities (LMTs) across Greater Tokyo is expected to rise from the current level of about 3.5% to 6.0% over the coming two years. This is because of new supply of space. 2015 is likely to be a record year for new supply (of 290,000 tsubo), with 150,000 tsubo being completed in 4Q15 alone. Another 360,000 tsubo of new LMT space is likely to become available in 2016.