JPR Shinsaibashi Bldg.
A stylish office building on the corner of Mido-suji Street
This office building is located on Mido-suji Street, home to many luxury brand stores, a 2-minute walk from Shinsaibaishi Station, one of Osaka's leading commercial districts. Besides offices for IT, fashion and beauty industries, its tenants also include bridal- and interior-related showrooms.
Thanks to its stylish glass exterior, it received a Good Design Award and an Osaka Governor's Award in the Osaka Architecture Competition. It is an exceptional building that combines an outstanding appearance with a favorable location and excellent visibility.
Routes from Nearby Stations
Click the station names below and you can see the route from the relevant station to the property.
Related Press Releases
- Notice Concerning Execution of a Purchase Agreement in Connection with the Acquisition of the Benetton Shinsaibashi Building
|Address||Osaka, Osaka2-11 Minamisemba 4 Chome, Chuo-ku|
|Structure/Floors||S B2/10F||Acquisition Price (million yen)||5,430|
|Total Floor Space (m2)||5,303.98||Leasable Space (m2)||4,021.63|
|Completed||2003-2||Standard Floor Space (m2)||403.10|
|Acquisition Date||May 30, 2005||No. of Tenants||9|
- (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.
- (Note 5) As of July 30, 2016, the asset class of Benetton Shinsaibashi Bldg. was converted from “retail” to “office” to conform to the current use status, in accordance with the cancellation of the lease agreement (master lease agreement) with Benetton Japan Co., Ltd. The property’s leasable space, standard floor space and number of tenants were also changed due to the cancellation.
Floor Plan (Japanese)
|Rental Revenues (million yen)||125||125||131||132|
|Rental Expenses (million yen)||50||52||40||44|
|NOI from Leasing (million yen)||74||72||91||88|
|Depreciation (million yen)||31||25||22||23|
|Rental Income (million yen)||43||47||68||64|
|Capital Expenditures (million yen)||19||2||29||76|
|Period-End Occupancy Rate (%)||96.9||100.0||100.0||100.0|
|NOI Yield (%)||2.7||2.7||3.3||3.3|
|NOI Yield after Depreciation (%)||1.6||1.8||2.5||2.4|
|Appraisal Value (million yen)||4,420||4,550||4,690||4,670|
|Gain or Loss from Valuation (million yen)||-727||-575||-441||-514|
|Cap Rate (%)||3.8||3.7||3.7||3.7|
- (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.