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M-24 Shin-Koyasu

  • Kanagawa
  • Over 30,000㎡
  • Multi
Location 3-12 Moriyacho, Kanagawa-ku, Yokohama, Kanagawa
Site Area 39,104.77 m2
Total leasable area 71,081.63 m2
Structure/Floors Steel frame with deck roof of metal-plated steel sheeted roofing, 4-story building
Completed May 11, 2012
Acquisition Date Oct. 1, 2013
Acquisition Price 9,696 million yen
No. of Tenants 2
Major Tenants Sagawa Express Co., Ltd.
* Though JLF owns 51% 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 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 262 261 260 260 253
Depreciation 64 64 64 64 60
Loss on Write-offs of noncurrect assets - - 23
Income(loss) from real estate leasing business 197 197 172 196 192
CAPEX - 3 17 0
Book Value 9,245 9,184 9,113 9,049 8,989
Appraisal Value 11,800 11,800 11,900 11,900 12,000
* Not disclosed, for unable to obtain the tenant’s consent.

Location Profile

This property is located in the Yokohama Bay area. Because the Yokohama Bay area is adjacent to large consumption area such as Yokohama and Kawasaki cities and has good access to the port of Tokyo (Oi pier), as well as distribution gateways such as Haneda airport, the area is in high need of storage and distribution centers catering to the general consumer goods market (including imported goods) in the Tokyo metropolitan area. Many large-scale logistics facilities have been completed in recent years. Being close to the Koyasu interchange of the Metropolitan Expressway Kanagawa Route 1 Yokohane Line, the property has very convenient traffic connections and allows wide-area distribution covering a large part of the Tokyo metropolitan area. Furthermore, since the property is located in an area of a concentration of large-scale logistics facilities, there is no concern that noise issues will occur, enabling 24-hour operations. On the other hand, the location has high potential as a logistics center, including the recruitment of personnel, since it is surrounded by a residential area and is only a 5-minute walk to the nearest stations of Shin-Koyasu on the JR Keihin Tohoku line and Keikyu Shinkoyasu on the Keihin Kyuko line.

Facility Profile

The facility is a highly versatile large-scale multiple-tenant logistics center with standard specifications such as an effective column interval of 10 m, an effective ceiling height of more than 5.5 m, and a standard floor land capacity of 1.5 t/m2. Assuming multiple tenant use, it offers ramp ways that allow direct access to all floors excluding the fourth floor, and vertical transport equipment (4 elevators) on the third and fourth floors, therefore enabling efficient inflow, outflow, internal flow, and storage, and providing highly functional specifications that accommodate the needs of tenants from a wide range of industries. Furthermore, by securing rooftop parking spaces for a large number of cars (270) as well as a concession stand and a large relaxation space for staff, the facility offers a friendly working environment to its tenant companies. It also takes into consideration business continuity and the rise in the awareness toward the environment by adopting seismic response control structures and has obtained a CASBEE Yokohama A rank.

Press Release


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