#Japan #Tokyo #Logistics Real Estate #CRE #Warehouse Market

Overview

CRIE, a prominent player in Japan’s logistics real estate industry, has unveiled its latest publication, the "Warehouse and Logistics Real Estate Market Report December 2025." This report encapsulates the market trends related to rental warehouses, specifically focusing on large warehouses exceeding 3,000 tsubo and small warehouses under 1,000 tsubo across key areas including the Tokyo metropolitan area, Kansai, Chubu, and Kyushu.

Insights into the Report

This report significantly enhances the accuracy of market analysis through collaboration with member companies of the Japan Warehouse Master Lease Association, utilizing their managed warehouse property data. Regular publication of these insights will occur quarterly, aligning with the seasons—January to March, April to June, July to September, and October to December.

In addition to improved data sources, CRIE has also revamped the visual design of its reports. Details about this were also shared in a separate press release issued today.

Market Trends Summarized

Large Warehouses

Tokyo Metropolitan Area

• - Supply: Experienced a brief hiatus.
• - Demand: Strong existing needs continue to drive the market.
• - Vacancy Rate: 8.88% (decrease of 0.99 points from the previous quarter)

Kansai Region

• - Demand: Reached an all-time high, surpassing supply.
• - Vacancy Rate: 3.94% (decrease of 1.05 points from the previous quarter)

Chubu Region

• - Market Strength: Robust demand absorbing the increase in supply.
• - Vacancy Rate: 15.19% (decrease of 1.76 points from the previous quarter)

Kyushu Region

• - Inventory Management: Progress in utilizing existing properties, yet new properties remain underutilized.
• - Vacancy Rate: 10.55% (increase of 0.56 points from the previous quarter)

Small Warehouses

Tokyo Metropolitan Area

• - Demand Trends: A divide in supply and demand exists, leading to a slight increase in vacancy rates.
• - Vacancy Rate: 0.57% (increase of 0.02 points from the previous quarter)

For small warehouses, the data has been calculated using information from member companies of the Japan Warehouse Master Lease Association, ensuring accuracy and consistency with previous quarters.

Storage Volume and Vacancy Rates

This report provides distinct insights into the overall storage volume and the associated vacancy rates within the logistics real estate market as of December 2025. Those interested can download the full report by visiting this link. Note, registration is required for access, but it’s free!

Permissions and Usage

The copyright for this report is owned by CRIE. Any reproduction or citation must credit "CRIE Research". There are several restrictions on use, including alterations or sales of the content, and any actions that may violate the law or public order will not be tolerated.

About CRIE

CRIE operates under the motto of creating a future that "connects" through its extensive offerings in the logistics real estate sector. This includes services ranging from the development of logistics properties and tenant leasing to comprehensive asset and property management. Their primary focus is also on master leasing, particularly for small- to mid-sized logistics facilities.

As of the end of October 2025, CRIE has a total of 36 developed logistics facilities under their brand "LogiSquare," covering a cumulative area of approximately 1.37 million square meters (around 410,000 tsubo). Currently, there are nine projects ongoing, with an area of about 380,000 square meters (approximately 110,000 tsubo) being developed. Notably, CRIE holds one of the top management scales in Japan’s logistics real estate sector, managing about 1,500 properties spread over 6.71 million square meters (around 2.03 million tsubo).

• - Company Name: CRIE Co., Ltd.
• - Headquarters: 19th Floor, Toranomon Twin Building East, 2-10-1 Toranomon, Minato-ku, Tokyo
• - Date Established: December 22, 2009
• - Business Activities: Renting, managing, developing, brokering logistics properties and offering investment advice.
• - Capital: ¥5,391 million (as of July 31, 2025)
• - Corporate Website: www.cre-jpn.com