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M-23 Kashiwa II

  • Chiba
  • Over 30,000㎡
  • Single
Location 1823-1, Fujigaya, Kashiwa, Chiba
Site Area 54,418.30 m2
Total leasable area 50,159.55 m2
Structure/Floors Steel-frame 3-story building with steel sheet roof
Completed March 10, 1989
Acquisition Date Mar. 1, 2018
Acquisition Price 3,795 million yen
No. of Tenants 1
Major Tenants Nakano Shokai Co., Ltd.
* The Property was acquired as land with a fixed-term leasehold on September 20, 2013 and JLF acquired the building on March 1, 2018.
The acquisition price indicates the sum of the price on September 20, 2013 and March 1, 2018.

Income(Loss) from Real Estate Leasing Business

(million yen)

The 25th Period The 26th Period The 27th Period The 28th Period The 29th 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 74 134 148 126 140
Depreciation - 29 35 36 36
Loss on Write-offs of noncurrect assets - - 0
Income(loss) from real estate leasing business 74 104 112 90 103
CAPEX - 0 2 0 6
Book Value 2,526 3,824 3,790 3,755 3,725
Appraisal Value 2,540 4,350 4,360 4,400 4,410
* Not disclosed, for unable to obtain the tenant’s consent.

Location Profile

・The property is located in the Kashiwa area which is situated in the inland area of Chiba Prefecture, close to central Tokyo, Japan’s main center of consumption and which is in high demand as a base for the storage and delivery of general consumer goods.
・The property has good access, situated around 1.0 km from National Route 16, one of the main circular roads of the Tokyo metropolitan area. It is located around 8.5 km from National Route 6 and around 14.1 km from the “Kashiwa Interchange” of Joban Expressway, and has excellent traffic convenience, enabling wide-area delivery in the Tokyo metropolitan area.
・The property is close to the Shounan Industrial Park, which is home to many large logistics facilities, enabling operation around the clock without fearing potential complaints about noise, vibration, etc. from the neighborhood.
・There would also be no problem hiring labor as the area around and behind the property is deemed to be densely populated and the property provides a sufficient number of parking places (for 58 vehicles), enabling workers to commute by car.

Facility Profile

・A rare spacious three-story box-type logistics facility suited to distribution and processing operations, created through the conversion of a manufacturing plant, with standard facility specifications including an effective inter-column gap of 14.1m × 8.5m, an effective ceiling height of at least 7m, and a maximum floor withstand load of 1.2t/m2.
・The installation of truck berths on two sides and vertical handling equipment (4 cargo elevators and 8 vertical conveyors) enables efficient cargo carrying-in and carrying-out, in-warehouse movement and storage. The property also has refrigeration functions on the second story, also enabling management of food products and thus meets a wide range of tenant needs.

Press Release


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