Kanematsu Bldg. Annex

A-2 Tokyo CBDs Office Medium-size Outside

A rare office building in the Kyobashi area that can be rented out in its entirety

This building features a gray-toned facade with a highly distinctive design.
It is favorably located in the Kyobashi area, where there are many head office buildings of major companies and offices occupied by foreign capital companies lining Showa-dori Street, very close to Takaracho subway station.
It has an average floor space of 125 tsubos per floor and has been adapted to save energy through the introduction of individual air-conditioning and LED lighting.
It is a rare building in the Kyobashi area (which is within walking distance of Tokyo Station) that can be rented out in its entirety.

Access Map

Property Overview

Address Chuo-ku, Tokyo17-5 Kyobashi 1 Chome
Structure/Floors SRC  B1/8F Acquisition Price (million yen) 2,874
Total Floor Space (m2) 4,351.46 Leasable Space (m2) 2,291.13
Completed 1993-2 Standard Floor Space (m2) 414.17
Acquisition Date December 27, 2001 No. of Tenants 1
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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) - - - -
Rental Expenses (million yen) - - - -
NOI from Leasing (million yen) -12 0 62 67
Depreciation (million yen) 11 13 13 13
Rental Income (million yen) -24 -13 49 53
Capital Expenditures (million yen) 0 81 0 1
Period-End Occupancy Rate (%) 0.0 100.0 100.0 100.0
NOI Yield (%) -0.8 0.0 4.3 4.7
NOI Yield after Depreciation (%) -1.6 -0.9 3.4 3.8
Appraisal Value (million yen) 2,430 2,540 2,590 2,630
Gain or Loss from Valuation (million yen) 21 63 126 -244
Cap Rate (%) 4.3 4.2 4.3 4.0
  • (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.
  • (Note7)Due to unavoidable circumstances, the sum total of rental revenues and the sum total of rental expenses, etc. of the property are not disclosed.

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