JPR Harajuku Building

A-18 Tokyo CBDs Office Medium-size Outside

A highly designed office building on Meiji-dori Street

Located near Meiji-jingumae subway station on Meiji-dori Street leading to Shibuya, this is an eye-catching office building with a glass curtain wall.
The surrounding Jingumae area is home to the flagship stores of various retailers, especially in the fashion sector, and is also in high demand as an office location among creative companies in arts- and media-related fields.
It is more spacious than neighboring office buildings, with approximately 170 tsubos per floor, and its superior building specifications also give it a strong competitive advantage.

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Related Press Releases

2009.12.24
Notice Concerning Property Acquisition (Conclusion of Contract) "Ryoshin Harajuku Building"
2011.2.22
Notice Concerning Change of Property Name

Property Overview

Address Shibuya-ku, Tokyo17-11 Jingumae 6 Chome
Structure/Floors SRC  B1/9F Acquisition Price (million yen) 8,400
Total Floor Space (m2) 6,466.94 Leasable Space (m2) 4,763.38
Completed 1989-3 Standard Floor Space (m2) 544.00
Acquisition Date December 25, 2009 No. of Tenants 9
Related website
  • (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) 233 234 249 250
Rental Expenses (million yen) 55 73 70 55
NOI from Leasing (million yen) 177 161 179 194
Depreciation (million yen) 12 12 13 13
Rental Income (million yen) 164 148 166 181
Capital Expenditures (million yen) 0 7 11 5
Period-End Occupancy Rate (%) 100.0 100.0 100.0 100.0
NOI Yield (%) 4.2 3.9 4.2 4.7
NOI Yield after Depreciation (%) 3.9 3.6 3.9 4.4
Appraisal Value (million yen) 7,830 8,260 8,510 8,900
Gain or Loss from Valuation (million yen) -897 -462 -210 500
Cap Rate (%) 4.2 4.1 4.2 3.9
  • (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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