JPR Sendagaya Building

A-21 Tokyo CBDs Office Medium-size Sponsor

An office building with a transparent, glass-covered exterior

This office building stands out thanks to its exterior featuring a transparent green and white glass curtain wall.
There are many creative companies in design-, fashion-, arts-, and print media-related fields in the surrounding area, and the building has a significant competitive advantage thanks to its column-free, divisible floors with approximately 250 tsubos of space each. What's more, it offers exceptional convenience, with ample parking spaces inside the building and a convenience store on the first floor.
It is also highly convenient in terms of transportation: it can be accessed from multiple stations, including JR Sendagaya Station, JR Yoyogi Station, and Kitasando Station on the Fukutoshin subway line.
The building is environmentally friendly, with DBJ Green Building Certification recognizing it as having extremely "high environmental and social awareness.

Access Map

Related Press Releases

Notice Concerning Property Acquisition (Conclusion of Contract)
Notice Concerning Property Acquisition (Decision of Property Name)
Notice Concerning Property Acquisition

Property Overview

Address Shibuya-ku, Tokyo23-5 Sendagaya 4 Chome
Structure/Floors S  8F Acquisition Price (million yen) 15,050
Total Floor Space (m2) 7,683.19 Leasable Space (m2) 6,177.74
Completed 2009-5 Standard Floor Space (m2) 817.58
Acquisition Date May 31, 2010 No. of Tenants 6
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) 226 239 262 275
Rental Expenses (million yen) 53 62 61 62
NOI from Leasing (million yen) 173 176 201 212
Depreciation (million yen) 36 36 36 36
Rental Income (million yen) 136 140 164 175
Capital Expenditures (million yen) 0 5 0 2
Period-End Occupancy Rate (%) 86.8 100.0 100.0 100.0
NOI Yield (%) 2.3 2.4 2.7 2.9
NOI Yield after Depreciation (%) 1.8 1.9 2.2 2.4
Appraisal Value (million yen) 11,000 11,300 11,500 11,800
Gain or Loss from Valuation (million yen) -4,029 -3,697 -3,461 -3,250
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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