As Japan’s first dedicated logistics REIT, Japan Logistics Fund, Inc. (JLF) leverages the expertise of its asset management firm Mitsui & Co., Logistics Partners Ltd. (MLP). MLP’s ability to discern trends in logistics and the economy and its knowledge and experience gained in actual logistics settings help JLF secure stable revenues over the mid- to long-term and maximize profits for our unitholders.
Geographical Areas as Investment Targets
Investments are focused on geographical areas within Japan that provide a great degree of convenience as distribution facilities that are close to major consumption markets or capable of supporting demand for greater logistics efficiencies.
|Area classification||Major areas||Target
|Bay areas||Shinagawa-ku(Ooi, etc.), Koto-ku(Shin-kiba, Shiomi, Tatsumi, etc.), Oota-ku(Haneda area, etc.), Yokohama-shi, Kawasaki-shi, Urayasu-shi, Funabashi-shi||50～70％|
|Inland areas||Around national route No. 16, Tama district of Tokyo, Southem Saitama, Eastem Kanagawa, and Northwestern Chiba|
|Kinki Area||Bay areas along the Osaka Bay and adjacent to consumpition areas in and around Osaka-shi, between Osaka and Kobe, between Kyoto and Osaka, as well as along the Kinki Expressway||30～50％|
|Chubu Area||Nagayo Port area, Komaki-shi, Kasugai-shi, Toyota-shi|
|Other Area||Area where locatonal advantage can be attained, e.g. close to consumption areas||5～10％|
Types of Logistics Centers
In addition to traditional warehouse-type logistics facilities, investment targets also include highly functional logistics facilities that support the movement of small quantities of a broad variety of goods or that are designed to hold goods for only very short periods of time, among others.
|Type of Facility||Application|
|TC/DC logistics facilities※ supporting consumer markets.|
|Logistics facilities supporting temperature and/or humidity controls and distribution processing.|
|Logistics centers covering trunk hubs or collection and delivery areas for home delivery operators, e-commerce companies or line carriers.|
|Export/import logistics centers located at gateways near sea or air ports.|
|Logistics centers for stocking or distributing finished product.|
|Others||Air cargo handling express centers Secure trunk rooms equipped to support document preservation, valuables storage and data storage.|
|*||TC (Transfer Center)/DC (Distribution Center) logistics facilities are logistics centers designed to carry no inventory or to hold inventory for only limited periods of time.|
The following criteria are given priority in making investment decisions.
|Tenants:||Tenant creditworthiness, business sector and business conditions trend affecting the tenant
Projection for continued occupancy
Rent pricing and lease terms
|Location:||Proximity to consumer or producer markets
Access to highways or major thoroughfares
Access to seaports, airports, train container stations or truck terminals
Status of roads adjacent to the site
Access to labor and convenience of commute
Surrounding environment (natural environment, whether nighttime operation is allowed and the future potential of the site as a logistics location)
City planning, etc.
|Size:||At least a total floor space of 6,000 ㎡|
Fixtures and equipment
Versatility. Adaptability to a broad range of tenant needs
|Building age:||Can the asset deliver stable operation over the mid- to long-term?|
|Soil:||Has the soil been handled properly in accordance with the Soil Contamination Countermeasures Act, laws and regulations related to the environment, ordinances from local governments and the like?|
|Rights:||Is the property ownership structure shared or partitioned?
Is the property subject to quasi co-ownership of the beneficiary rights?
Is the land leased?
Is the property subject to collateral or usufructuary rights?
Does the acquisition include ownership of the land, or is the land leased?