Kanematsu Bldg.

A-1 Tokyo CBDs Office Large Outside

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 tsubos per floor, enabling it to accommodate a wide range of tenant needs, and the first-floor entrance is also equipped with a garden and cafe where people can relax while taking a break.
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

28th 29th 30th 31st
Rental Revenues (million yen) 295 302 362 378
Rental Expenses (million yen) 136 123 125 113
NOI from Leasing (million yen) 159 179 237 265
Depreciation (million yen) 46 46 48 48
Rental Income (million yen) 113 132 188 216
Capital Expenditures (million yen) 77 69 34 1
Period-End Occupancy Rate (%) 69.7 100.0 100.0 100.0
NOI Yield (%) 1.9 2.2 2.9 3.3
NOI Yield after Depreciation (%) 1.4 1.6 2.3 2.7
Appraisal Value (million yen) 12,600 12,800 12,900 13,700
Gain or Loss from Valuation (million yen) -2,125 -1,947 -1,833 -2,576
Cap Rate (%) 3.9 3.8 3.9 3.6
  • (Note1) Period-end occupancy rate = Leased space/Leasable space
  • (Note2) NOI yield = (Rent revenue - Realestate expenses related to rent business) + Depreciation/Acquisition price
  • (Note3) 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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