ESR adds new logistics facility to Greater Tokyo portfolio
ESR, a large APAC focused logistics real estate platform, will develop another modern logistics facility, ESR Ukishima distribution centre, on a 32,227 sqm logistics development site the company has acquired in the Greater Tokyo bay area.
The total expected investment is estimated at JPY 24 billion (USD 215 million). With this new development, ESR continues to expand its network in Japan given the strong secular trends and growth in both logistics and e-commerce and taking into account the new dynamics of Covid-19.
Recent events have not only accelerated online consumption and structural change in buying habits, but are also changing the “just-in-time” inventory model for many retailers who are now looking to modernise and improve their logistics facilities. ESR will commence construction in March 2021 with completion expected in August 2022. (mw)