Japanese telecom SoftBank Corp. will open a new office in the Shibuya Scramble Square high-rise, offering direct access to busy Shibuya Station in central Tokyo.
SoftBank will lease the entire 45th floor of the 47-story building, giving the company an estimated 1,940 sq. meters of office space, which will be designed by group company WeWork, according to sources.
Reasons for opening the new office have yet to be disclosed. The move-in date is believed to be next year but the company has yet to specify exactly when.
The three-tower Shibuya Scramble Square building was developed by three railway operators: Tokyu Corp., JR East and subway operator Tokyo Metro. SoftBank will occupy the East Tower, which opened on Nov. 1, ahead of the Central and West towers.
The structure contains 181,000 sq. meters of gross floor space, of which 73,000 sq. meters is net leasable office space. It extends seven floors below ground and has a typical floor plate of 2,880 sq. meters.
Floors 17 through 45 are for offices, with all space having been leased. Tenants include: internet ad agency CyberAgent Group; staffing business Leverages; telecom XCom Global; media business Rockin'on Holdings; mobile app developer Mixi; NN Life Insurance; and furniture manufacturer and seller Okamura.
In addition, WeWork will open a coworking branch spanning five floors with an estimated floor area of 14,400 sq. meters.
SoftBank and its parent SoftBank Group will relocate their headquarters to the office tower of the Tokyo Portcity Takeshiba mixed-use complex in Tokyo's Minato Ward in 2020. Their offices -- also designed by WeWork -- will cover 28 floors.
WeWork will also open a branch in the building, leasing 2,600 8,600 sq. meters on three floors.
This report first appeared in Nikkei Real Estate Market Report on Dec. 6, 2019.