Creating a new third place in a town where work and home are close together. SHARE LOUNGE x H¹T: A New Optimal Solution for Enhancing Office Building Value
How do SHARE LOUNGE and H¹T add real estate value to a 25-year-old building? Leaders from Nomura, ORIX, and CCC discuss their collaboration at Harumi Triton Square. - Spring 2026
An office building that is 25 years old. A new value-enhancing strategy amidst soaring construction costs.
—First, could you tell us about the background behind the creation of "SHARE LOUNGE Harumi Triton with H¹T" and the challenges each company was facing at the time?
Kikuchi:
At ORIX Real Estate Investment Advisors, we specialize in value enhancement, acquiring existing properties and increasing their added value through renovations and other means. However, in recent years, due to factors such as soaring construction costs and changes in work styles, we have felt that it has become difficult to find sufficient added value to satisfy tenants using only the traditional method of renovating the physical aspects (interior and facilities).
Amidst all this, we were entrusted with the asset management of the lower floors of Building Y of "Harumi Island Triton Square," which celebrated its 25th anniversary in July 2024. The biggest challenge was how to increase the value of this property, given its age.
In Building X, where we had previously undertaken asset management and renovation work, we had the successful experience of seeing increased occupancy rates due to the provision of amenities such as a lounge exclusively for residents. Therefore, we had the intention of also installing a lounge in Building Y. However, considering its location on an upper floor (9th floor) of the building, we were concerned that unless it was a place with high appeal and uniqueness, rather than just a simple rest area, people wouldn't bother to visit. So we carefully considered our options.
I myself have used SHARE LOUNGE as a user, and I found its flexible use—being able to concentrate or relax in a comfortable space surrounded by books—to be very appealing. That's how it all started, when we consulted with CCC about opening a store there.
Kawaguchi:
When ORIX Real Estate Investment Advisors approached us with the idea of creating a lounge for tenants to use in conjunction with the renovation of Building Y, we felt that the Harumi area itself had great potential, with many local residents and office workers. On the other hand, since there had been few previous SHARE LOUNGE locations on the upper floors of office buildings, it was uncertain whether regular customers would actually come up this far, and this was a concern for us.
However, when we started discussions about opening a joint store with Nomura Real Estate's "H¹T," which already had a proven track record in Kameido (*Kameido Clock), our vision suddenly opened up. I am confident that this approach will allow us to assess the business viability of SHARE LOUNGE, leveraging its unique strengths to enhance value for both weekday workers and local residents using the space on weekends.
Shiiya:
We at "H¹T" operate as a satellite office service for corporate members, with approximately 8,500 registered companies. Therefore, it is essentially a closed service that can only be used by employees of those corporations. However, we received many inquiries from the general public who wanted to use the space, and since corporate use decreases on weekends, there were times when we had excess space, which was a challenge.
In areas like Harumi, where work and residence are extremely close, opening up the service to the general public would likely maximize the potential of the land, rather than keeping it a closed service. I believed there was definitely a need to make effective use of space by removing restrictions.
A collaborative synergy between developers and CCC, combining each other's strengths.
—What kind of synergistic effects do you see when you develop the service independently compared to when you develop it as a "collaboration" with SHARE LOUNGE?
Shiiya:
In our first store in Kameido, we were able to create a hub for the local community with the support of CCC. Kameido is a mixed-use development area that holds special significance for Nomura Real Estate, as it includes the "Kameido Clock" commercial facility and the adjacent Proud residential complex. "SHARE LOUNGE Kameido with H¹T," located within the complex, has organized various events, such as pet events where dog food is distributed, in order to serve as a point of contact with local residents. By collaborating with CCC on this project, I feel we've been able to create something more than just a workspace—a true "community for the city."
Looking at the usage scenarios at "SHARE LOUNGE Kameido with H¹T," you can see heartwarming scenes of parents and children, such as dads working on their days off while their children do their homework next to them. A wonderful scene is unfolding that could never have been created in a closed office space. I believe that this kind of usage will naturally increase here in Harumi as well.
Kawaguchi:
Yes, in Harumi, the number of families using the store on weekends has naturally increased, and many families are enjoying the board games we have available. As intended, we are seeing demand unique to areas where people can live and work in close proximity.
In terms of combining strengths in the collaborative process, Nomura Real Estate possesses extremely strong B2B corporate sales capabilities. On the other hand, we have the know-how in store operations and maintenance, as well as the ability to create a comfortable atmosphere, that we have cultivated through our B2C business. This fits together very well. In terms of store operations, local staff can efficiently handle both H¹T reception operations and SHARE LOUNGE management in a one-stop manner, resulting in significant value in terms of cost performance.
SHARE LOUNGE's contribution to lease-up
—From a real estate investment perspective, how would you evaluate the specific added value that "SHARE LOUNGE with H¹T" has brought to the building?
Kikuchi:
As an "amenity" (convenience facility) for the entire area, we feel that we are able to provide a special "third place" that is neither home nor work for both office workers and families living in the surrounding area. Furthermore, in terms of the impact on real estate value, the 9th floor, where SHARE LOUNGE is located, is divided into small units of approximately 30 to 50 tsubo (approximately 100-165 square meters) and we are seeking tenants for these units, and we are seeing an increase in inquiries for these units. Many tenants decide to rent a property after seeing the SHARE LOUNGE and H¹T facilities within the building, which contributes to the building's lease-up (increased occupancy rate). While there is a trend towards returning to office spaces following the COVID-19 pandemic, the supply of new buildings is tight due to soaring construction costs. Many tenants want to increase their floor space (area) but are unable to do so due to cost or physical constraints. In this context, having such high-functional lounges and meeting rooms within the building eliminates the need to create unnecessary meeting rooms in the company's own dedicated area (office), allowing for a more compact office space and more efficient cost management. This is a huge plus for both the building owner and the tenants.
Shiiya:
That's truly wonderful news. Even if you have meeting rooms or private offices within your own company, their utilization rate will vary depending on the day of the week and time of year, resulting in wasted costs during unused time. Use the building's amenities (such as the SHARE LOUNGE and H¹T) smartly only during peak seasons or when you truly need them. Companies can reduce costs, and building owners can more easily maintain high rental rates. I am honored that you have truly experienced the value that is mutual.
Kawaguchi:
It was precisely because we anticipated such demand that we prepared three meeting rooms for this "SHARE LOUNGE Harumi Triton with H¹T" project.
Kikuchi:
From a recruitment standpoint, the fact that "you can have your interview and work in a building with such a wonderful SHARE LOUNGE" is a huge selling point for companies, isn't it? The shared amenities outside of the private units are a strong differentiating factor for the entire building.
From residences to logistics facilities and cafeterias. Towards a future where the value of all assets is maximized.
—Based on this "office building model" example, could you tell us about SHARE LOUNGE's future expansion strategy and the future possibilities that the three companies envision?
Kawaguchi:
SHARE LOUNGE has now expanded to 59 locations nationwide (as of July 2024). Going forward, we plan to accelerate our store openings, aiming for 100 stores as quickly as possible, while focusing primarily on the Tokyo metropolitan area, and also considering expansion into regional areas, suburbs, and participation in large-scale redevelopment projects.
With "SHARE LOUNGE Harumi Triton with H¹T," we were able to create a solid model case demonstrating how to attract B2C customers and generate B2B added value even on the upper floors of office buildings.
We want to expand the SHARE LOUNGE brand through a collaborative approach with each business, developing flexible store opening plans tailored to the assets and regional characteristics of our various partner companies. We'd like to continue increasing this type of office-based store location in the future.
Shiiya:
We are a developer specializing in mixed-use developments, handling not only offices but also residential, commercial, and hotel properties. H¹T, as a standalone business, has a closed business model, which limits the location and size of its stores. However, by combining it with SHARE LOUNGE, we can boldly take on larger projects like this one.
We would like to continue exchanging information closely with SHARE LOUNGE about what interesting things we can do together on this project, and expand our possibilities.
Furthermore, common areas (such as meeting rooms) in condominium buildings are often used only for limited purposes, such as during events, and are therefore available at certain times. For example, in properties developed by Nomura Real Estate, they have created pathways in the common areas that allow non-residents to enter and exit, and they rent these out to outsiders as H¹T (Housing and Telephone) spaces, which helps the management association monetize their services (such as supplementing management fees). I feel that the idea of "how to make effective use of limited space" is something that is very much in common with CCC.
Kikuchi:
At ORIX Real Estate Investment Advisors, we own a wide range of assets, including not only offices and commercial facilities, but also residential properties, hotels, and even logistics facilities, and all of them require modern value enhancement.
For example, a lounge for employees in an existing logistics facility. There is a strong need to provide a comfortable work and relaxation space like SHARE LOUNGE here, as this would increase employee satisfaction and directly lead to companies strengthening their recruitment efforts. It would be interesting to collaborate with various companies and explore new added value not only in existing office and commercial spaces, but also in different asset classes such as residences and logistics.
Kawaguchi:
That's wonderful. In addition, we've recently been experimenting with a new model at our Ikebukuro store, which incorporates a "workplace cafeteria (a cafeteria exclusively for building tenants)" within SHARE LOUNGE, changing its form and usage depending on the time of day.
"Unleashing the potential of space and creating new value." We will continue to work hand in hand with real estate professionals like you to spread the flexible third places that are most needed in each city and each building across the country.
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