US investment giant Blackstone has agreed to purchase a major logistics site in central Tokyo, representing the biggest deal of its kind in Japan this year. The property, known as Tokyo C-NX, is valued at over JPY 100 billion (approximately US$641 million). This acquisition highlights the firm’s focus on industries that are driving the country’s economic expansion.

The asset is a massive five-story warehouse located in the Tokyo Bay area. Spanning 1.6 million square feet, it sits just a 15-minute drive from the city centre. It is considered a vital distribution hub at a time when Japan is seeing high demand for modern storage space. This trend is largely fuelled by the rise of e-commerce, with the Japanese market now ranked as the fourth largest in the world.

Daisuke Kitta, Head of Real Estate Japan at Blackstone, said:

“We are pleased to invest in a premium asset in logistics, a fast-growing sector and one of Blackstone’s highest conviction investment themes. This reinforces our focus on investing in critical industries shaping Japan’s future and demonstrates our ability to offer scale, speed, and certainty to Japanese corporates seeking trusted partners to advance their strategic goals. We are committed to partnering with Japanese businesses and continuing to contribute in meaningful ways to the evolution of Japan’s economy.”

Blackstone has become a frequent partner for major Japanese firms such as Sony Group and Seibu Holdings. The company has built a wide-ranging portfolio in the country including hotels, data centres and residential blocks. This latest move follows its purchase of Tokyo Garden Terrace Kioicho earlier this year for $2.6 billion. The firm is also expanding its data centre footprint through its AirTrunk platform.

Globally, Blackstone remains a dominant force in the logistics sector. Over the last 15 years, it has secured large-scale holdings across Europe, the US and the Asia Pacific region. This latest Tokyo deal ensures the firm maintains its position as a major player in Japan’s shifting digital economy.