Keppel REIT has secured a new renewable energy solutions tenant at its asset known as KR Ginza II in Japan.

KR Ginza II is a freehold office building in Tokyo’s prime Ginza District which was acquired by Keppel REIT in November 2022.

It comprises eight storeys and offers a total net lettable area of about 37,000 sf with a retail unit on the ground floor.

The asset is currently anchored by Netyear Group Corporation, a subsidiary of NTT Data Corporation.

The new renewable energy solutions tenant will occupy three floors, spanning
Approximately 14,100 square feet, said Keppel REIT.

With this latest lease commitment, the building’s committed occupancy level has increased from 36.3% to close to 75%.

“The manager is confident that with its proactive leasing efforts, KR Ginza II will continue attracting companies looking for quality office spaces in Tokyo”, the REIT added.

Keppel REIT was last done on the Singapore Exchange at SGD0.885, which presently implies a distribution yield of 6.55% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.