Construction begins on AXA IM Alts’ Japanese multi-story logistics facility

AXA IM Alts has begun construction on a 79,095-square-meter (851,370-square-foot) site in Kisosaki, near Nagoya, Japan, to develop an institutional-grade, multitenant logistics facility.

The development site was acquired in March 2020, alongside ESR. The site was purchased from the Mie Prefectural Government and represents a total investment size of ¥27 billion (€220 million/$268 million).

The development will be spread over four stories and is targeting practical completion by the end of April 2022. With flexible unit sizes ranging from 5,000 square meters (54,000 square feet), the 155,000-square-meter (1.67 million-square-foot) building will be suitable for a diverse range of occupiers, who will also benefit from a range of best-in-class amenities. Sustainability has been a key consideration, and the asset is being designed to utilize solar power as well as to meet CASBEE A classification standards. ESR will be responsible for the development phase and support o