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An economic rebound and loose money policy under Prime Minister Shinzo Abe briefly halted a long slide in Japan’s commercial property market, but the benefits of “Abenomics” appear increasingly limited to Tokyo, leaving a moribund hinterland.

For a while, as the Bank of Japan printed money and Abe spent it, commercial property investment, a barometer of economic activity, spilled beyond the capital into the country’s larger regional cities.

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