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M-23 Kashiwa II (Land)

  • Chiba
  • Land Over 30,000㎡
  • Single
Location 1823-1, Fujigaya, Kashiwa, Chiba
Site Area 54,418.30 m2
Total leasable area 54,418.30 m2
Structure/Floors
Completed
Acquisition Date Sep. 20, 2013
Acquisition Price 2,500 million yen
No. of Tenants 1
Major Tenants Sumitomo Mitsui Finance & Leasing Co., Ltd.
* Although the fiduciary of the trust beneficiary right of the building of this property is Sumitomo Mitsui Trust Bank Co., Limited, and although the lessee indicated in the lease contract is Sumitomo Mitsui Trust Bank Co., Limited, virtual tenant of the building is Sumitomo Mitsui Finance & Leasing Co., Ltd., which is the fiduciary under the trust contract for the building.

Income(Loss) from Real Estate Leasing Business

(million yen)

The 20th Period The 21th Period The 22th Period The 23th Period The 24th Period
Real estate leasing business revenue 非開示* 非開示* 非開示* 非開示* 非開示*
Real estate leasing business expenses 非開示* 非開示* 非開示* 非開示* 非開示*
NOI 74 74 74 74 74
Depreciation 0 -
Loss on Write-offs of noncurrect assets -
Income(loss) from real estate leasing business 74 74 74 74 74
CAPEX -
Book Value 2,526 2,526 2,526 2,526 2,526
Appraisal Value 2,540 2,540 2,540 2,540 2,540
* Not disclosed, for unable to obtain the tenant’s consent.

Location Profile

This property is located in the Kashiwa Area. Because Kashiwa Area is located in the inland area of Chiba Prefecture that is close to the heart of Tokyo Metropolis, the largest consumption area in Japan, the area is in high need of storage and distribution centers catering to the general consumer goods market in the Tokyo metropolitan area. Many large-scale logistics facilities have been completed in recent years. Not only does the property allow distribution to Saitama and central Chiba using Route 16, a major arterial route in the Tokyo metropolitan area, it allows wide-area distribution to central Tokyo using Route 6 and the Joban Expressway.

Facility Profile

(for reference) Originally constructed as a factory, the Building has been added value by being converted into a logistics facility that meets standards as a commercial warehouse. It is a rare logistics facility with a large space that is suited for distributive processing operations (about 23,100 m2 of rent area per floor (approx. 3,300 m2 for the third floor)). In addition, the facility has double-sided loading docks and ample vertical transport equipment (4 elevators and 8 vertical transport devices), therefore enabling efficient inflow, outflow, internal flow and storage, accommodating the wide-ranging needs of the tenant.

Press Release

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