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M-16 Shinonome

  • Tokyo
  • Over 30,000㎡
  • Single
Location 2-13-32 Shinonome, Koto-ku, Tokyo
Site Area 30,283.33 m2
Total leasable area 34,415.56 m2
Structure/Floors Steel-frame reinforced concrete structure, flat roof, 5 stories
Completed February 8,2006
Acquisition Date Feb. 26, 2009
Acquisition Price 11,800 million yen
No. of Tenants 1
Major Tenants Sagawa Express Co., Ltd.
* Though JLF owns 47% stake of the trust beneficiary right of real estate, the figures above represents 100% of the property (other than acquisition price.)

Income(Loss) from Real Estate Leasing Business

(million yen)

The 22th Period The 23th Period The 24th Period The 25th Period The 26th Period
Real estate leasing business revenue 354 354 354 354 354
Real estate leasing business expenses 75 75 75 75 75
NOI 326 325 325 326 325
Depreciation 46 46 46 46 46
Loss on Write-offs of noncurrect assets 0 - - -
Income(loss) from real estate leasing business 279 279 278 279 278
CAPEX 0 0 - 0 0
Book Value 11,419 11,372 11,325 11,279 11,233
Appraisal Value 14,700 14,900 14,600 14,600 14,900

Location Profile

The property enjoys extremely high scarcity value as a logistics base located along the coast in the Tokyo metropolitan area, situated roughly 7km from JR Tokyo Station. The property's location, roughly 2km from the Ariake Interchange on the Metropolitan Expressway Wangan Route and 3km from the Shin-Kiba Interchange, features excellent access to major roadways, facilitating transport that covers the entire Tokyo metropolitan area.
Due to its location within Tokyo's 23 wards, the largest commercial hub in Japan, the property is well-suited to the storage and delivery of general consumer goods and express delivery parcels. In addition, due to its favorable access to gateways such as Tokyo Port (Oi Pier) and Haneda Airport, demand from international logistics can also be expected. Due to the lack of residences in the surrounding neighborhood, the facility can be run around the clock, and the location features both a high degree of convenience for commuters, ensuring relatively ready availability of local labor resources, and conditions that make it well-suited to today's logistics operations.

Facility Profile

The property is a logistics complex that houses a number of functions, including a transfer center on the first floor for door-to-door delivery of parcels, a regional sales office for delivery operations on the third floor and a mail center on the fifth floor. The second and fourth floors have vaulted constructions, and office space is located on the outer edge of the second floor.
Each floor has more than 10.0m of column spacing and ample space secured for the installation of material handling equipment. The facility features specifications useful as a TC-type distribution center, such as direct truck access via ramps and dual-sided trucks berths on the first and third floors, enabling rapid and effective sorting as well as loading and unloading of freight.

Press Release

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