TOKYO:

The Pak Banker - - 6BUSINESS -

LaSalle In­vest­ment Man­age­ment, with about $48 bil­lion in prop­erty as­sets, plans to sell a port­fo­lio of ware­houses in Ja­pan, ac­cord­ing to four peo­ple fa­mil­iar with the mat­ter.

The port­fo­lio con­sists of nine stor­age build­ings that at least one po­ten­tial bid­der val­ues at as much as 85 bil­lion yen ($902 mil­lion), said two of the peo­ple, who asked not to be named be­cause the in­for­ma­tion is pri­vate. The prop­er­ties are in Tokyo and Osaka, one of the peo­ple said.

Ja­pan’s distri­bu­tion cen­ters are re­bound­ing from record high va­can­cies in 2009 amid in­creased de­mand for mod­ern stor­age fa­cil­i­ties, ac­cord­ing to bro­ker CBRE Group Inc. In­dus­trial spa­ces re­turned 6 per­cent on av­er­age for the year ended Oc­to­ber, more than dou­ble that for of­fice build­ings, ac­cord­ing to Lon­don- based In­vest­ment Prop­erty Data­bank Ltd.

Nazumi Sento, a Toky­obased spokes­woman for LaSalle at Arex Corp., a pub­lic re­la­tions com­pany, de­clined to com­ment.

The va­cancy rate in ware­houses in Tokyo has de­clined to 3.7 per­cent in the fourth quar­ter of 2012 from a peak of 20 per­cent in Septem­ber 2009, ac­cord­ing to CBRE. The ask­ing rents for lo­gis­tic prop­er­ties rose to 6,140 yen per tsubo in the sec­ond half of last year, the high­est since at least 2005.

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