Kanematsu Bldg.

A-1 Tokyo CBDs Office Large Sponsor

A high-grade office building in the extensively redeveloped Kyobashi area

Located in the Kyobashi area, this is a high-grade office building in terms of both appearance and facilities.
Thanks to the giant pillars at the four corners of the base, the front entrance features a broad opening and a large space with an 8 meter-high ceiling, giving the building a striking design and strong presence. It averages over 300 tsubo per floor, enabling it to accommodate a wide range of tenant needs.
The building is in a highly convenient location, with Takaracho subway station right in front of it and Kyobashi subway station just a 3-minutes walk away. The area stretching from Kyobashi to the Yaesu Exit of Tokyo Station, which is within walking distance, has been undergoing large-scale redevelopment in recent years and is attracting more and more interest as a growth area.
From an environmental perspective, the property has received DBJ Green Building Certification recognizing it as a building with "high environmental and social awareness."

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Property Overview

Address Chuo-ku, Tokyo14-1 Kyobashi 1 Chome
Structure/Floors S, RC, SRC  B2/13F Acquisition Price (million yen) 16,276
Total Floor Space (m2) 14,995.09 Leasable Space (m2) 7,994.02
Completed 1993-2 Standard Floor Space (m2) 1,011.81
Acquisition Date December 27, 2001 No. of Tenants 10
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  • (Note1) The abbreviations of the “Structure/Floors represent the following, respectively:
  • S: steel-framed RC: reinforced concrete SRC: steel-framed, reinforced concrete
  • (Note2) The acquisition price indicates the transfer price stated in the real estate transaction agreement or trust beneficiary transfer agreement, rounded down to the nearest million yen, and excludes various expenses required for the acquisition of the relevant real estate, etc. and consumption tax, etc.
  • (Note3) The “Total Floor Space” indicates the area of the entire building (including the interests owned by other sectional owners or co-owners) based on the registry.
  • (Note4) The “Leasable Space” indicates the area of the portions owned by JPR.

Floor Plan (Japanese)

Management Status

30th 31st 32nd 33rd
Rental Revenues (million yen) 362 378 383 383
Rental Expenses (million yen) 125 113 119 132
NOI from Leasing (million yen) 237 265 263 251
Depreciation (million yen) 48 48 48 49
Rental Income (million yen) 188 216 214 201
Capital Expenditures (million yen) 34 1 5 9
Period-End Occupancy Rate (%) 100.0 100.0 100.0 100.0
NOI Yield (%) 2.9 3.3 3.2 3.1
NOI Yield after Depreciation (%) 2.3 2.7 2.6 2.5
Appraisal Value (million yen) 12,900 13,700 13,800 13,900
Gain or Loss from Valuation (million yen) -1,833 -985 -842 -702
Cap Rate (%) 3.9 3.6 3.5 3.5
  • (Note1) Period-end occupancy rate = Leased space/Leasable space
  • (Note2) Annualized NOI yield = (Rent revenue - Realestate expenses related to rent business) + Depreciation/Acquisition price
  • (Note3) Annualized NOI yield(after depreciation) = (Rent revenue - Realestate expenses related to rent business)/Acquisition price
  • (Note4) Unrealized gains or losses = Appraisal value - Book value
  • (Note5) Cap rate indicates the capitalization rate by the direct capitalization method. Direct capitalization method is one of the methods to calculate the value estimated by income approach (a method to estimate the value of the target property by calculating the sum total of present value of the net operating income which the target property is expected to generate in the future), and capitalizes the net operating income of a certain period by using the capitalization rate.
  • (Note6) The amounts and areas are rounded down to the nearest specified unit, and the percentages and other figures are rounded off to the nearest specified unit.

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