Hines buys Nagoya asset for first Japan logistics project

U.S. developer Hines has acquired its first logistics acquisition and development in Japan, a two-building project in the port city of Nagoya, Yatomi Distribution Center, according to Mingtiandi.

The project, in Nagoya’s Yatomi city, consists of an existing single-story warehouse with 25,000 square meters (269,098 square feet) of space and a development site where the Houston-based firm will construct a four-story logistics building totaling 225,000 square meters (2.4 million square feet). Groundbreaking on the project, which will target a LEED Silver sustainability certification, is expected in the second quarter.