Yokohama Class A Office Market

TL;DR

• Minato Mirai 21 anchors the master-planned waterfront trophy tier.
• Nissan Motor HQ, JVCKenwood HQ, and a deep tech and BPO tenancy anchor demand.
• Class A vacancy near 7% — tighter than Tokyo's central five wards.
• Strong commute capture from Tokyo via Tokaido and Yokosuka lines.

Overview

Yokohama is Japan's second-largest city by population and Tokyo metro's principal secondary CBD. Minato Mirai 21 — the master-planned waterfront redevelopment — anchors the trophy tier, with Nissan Motor HQ, JVCKenwood HQ, and a deep tech and BPO tenancy. Strong commute capture from Tokyo via Tokaido and Yokosuka rail lines.

Market snapshot

Composite of Q1 2026 broker market reports for Yokohama (JLL, CBRE, Cushman & Wakefield, Colliers, Knight Frank, Savills).

Lease norms

Japanese gross structure (rent inclusive of management fees, separate from common area maintenance). 5-year terms standard with renewal options. Six-month security deposit typical. Rent-free of 3-6 months on 5-year terms.

Transit & access

Tokyu Toyoko, JR Tokaido, JR Yokosuka, JR Negishi, and Yokohama Municipal Subway. Haneda Airport is connected via Keikyu and JR. Tokyo Station is 25 minutes via Tokaido.

Tax

Japanese corporate tax of 23.2% federal plus local surcharges — combined effective rate near 30.62%. 10% consumption tax.

Talent

Strong tech, automotive, and engineering talent. Yokohama National University, Keio University Hiyoshi Campus, and Yokohama City University anchor the regional pipeline. Strong commute capture from Tokyo broadens the talent base.

Notable Class A buildings

• Yokohama Landmark Tower · Minato Mirai 21 — Tallest building in Yokohama.
• Nissan Global Headquarters · Minato Mirai 21 — Nissan Motor global HQ.
• Queen's Tower A/B/C · Minato Mirai 21
• Yokohama World Porters · Minato Mirai 21
• JR Yokohama Tower · Yokohama Station — Post-2020 JR-anchored trophy.

Class A submarkets in Yokohama

• Minato Mirai 21 — Master-planned waterfront trophy. (trophy)
• Yokohama Station West / East — Major transit-anchored Class A node. (trophy)
• Kannai / Bashamichi — Heritage Meiji-era CBD. (prime)
• Shin-Yokohama — HSR-anchored business node. (prime)
• Motomachi / Chinatown / Yamashita — Historic mixed-use core. (established)

Yokohama deep-dives

• Rents and incentives — What does Class A rent cost and what concessions are typical?
• Sublease market — How deep is sublease">sublease availability and how does it price?
• ESG and LEED stock — How much certified stock exists and what premium does it command?
• Transit and commute — Which submarkets have the strongest transit access?
• Talent and salaries — What does the white-collar talent pool look like and how is it priced?
• Fit-out costs — What does a Class A fit-out">fit-out cost per square foot?
• Flex vs lease — When does premium coworking beat a traditional lease?
• Taxes and incentives — What corporate, occupancy, and property taxes apply?
• Neighborhoods overview — Which Class A submarkets exist and how do they compare?
• Notable buildings — Which trophy assets define the market?
• Class A vs Class B — What is the spread between Class A and Class B and why?
• Leasing conventions — What lease structures, terms, and concessions are normal?
• Expansion checklist — What is the operational checklist for opening here?
• Relocation guide — How do you move into this market from another city?
• Frequently asked questions — Quick answers to the questions occupiers ask most.
• Operating expenses — What service charges, OpEx, and pass-throughs apply on top of rent?
• Growth and availability — How tight is current availability and what does the pipeline look like?
• Sustainability pathways — How do tenants land net-zero or science-based-target leases here?
• Hybrid work policy — How are hybrid policies shaping office demand here?
• Security and redundancy — What security, power, and connectivity redundancy are standard?
• Lab and R&D space — What does R&D-grade or wet-lab space look like in this market?
• Brand experience — How do trophy buildings function as brand experiences and showpieces?
• Fund strategy and flag — Which submarkets carry the strongest investor flag for funds?
• Exit and renewal — How do you handle a Class A renewal or exit cleanly here?
• Market cycle position — Where is this Class A market in its cycle right now?

Frequently asked questions

What is the role of Minato Mirai 21?

Minato Mirai 21 (MM21) is Yokohama's master-planned waterfront redevelopment of the former Mitsubishi Heavy Industries shipyard. Anchored by Yokohama Landmark Tower, Nissan HQ, and a deep mixed-use Class A cluster.

How does Yokohama compare to central Tokyo?

Yokohama offers ~30-40% rent discount to Tokyo's central five wards trophy product. Trophy tier is shallower; commute capture from Tokyo and Kawasaki anchors talent supply.

What is the impact of Tokaido HSR proximity?

Material. Yokohama Station and Shin-Yokohama HSR station provide rapid access to Tokyo and Nagoya/Osaka. Strong commuter rail capacity supports inbound talent supply.