Ginza Sanwa Building

A-22 Tokyo CBDs Office Medium-size Outside

A multi-purpose office and commercial building occupying a prime Ginza location

With a number of major redevelopment projects underway, the Tokyo and Ginza area is expected to become even more prosperous in future. This office building is ideally situated on the corner of Ginza-Sanchome crossing in an extremely busy shopping area, adjacent to both the Matsuya and Mitsukoshi department stores and across from the Apple Store.
It has a total area of over 200 tsubos per floor, which is rare in the Ginza area, houses various tenants including financial institutions, restaurants, and offices, and has maintained high occupancy levels over the long term. What's more, large-scale renovations are planned (or already completed in some cases), including installation of individual air-conditioning and upgrades to the elevators and washrooms. Thanks to improvements to the interior design and facilities, it will continue to enjoy a strong competitive advantage within the area.

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Related Press Releases

2011.8.22
Notice Concerning Property Acquisition (Conclusion of Contrast) "Ginza Sanwa Building"

Property Overview

Address Chuo-ku, Tokyo6-1 Ginza 4 Chome
Structure/Floors SRC  B2/9F Acquisition Price (million yen) 3,400
Total Floor Space (m2) 8,851.00 Leasable Space (m2) 1,896.69
Completed 1982-10 Standard Floor Space (m2) 810.02
Acquisition Date August 29, 2011 No. of Tenants 8
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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.

Management Status

28th 29th 30th 31st
Rental Revenues (million yen) 121 118 114 117
Rental Expenses (million yen) 46 49 47 45
NOI from Leasing (million yen) 74 68 66 71
Depreciation (million yen) 4 5 6 7
Rental Income (million yen) 69 63 59 64
Capital Expenditures (million yen) 1 53 28 14
Period-End Occupancy Rate (%) 100.0 94.8 96.8 100.0
NOI Yield (%) 4.3 4.0 3.9 4.2
NOI Yield after Depreciation (%) 4.1 3.7 3.5 3.8
Appraisal Value (million yen) 3,550 3,610 3,730 4,020
Gain or Loss from Valuation (million yen) -80 -68 29 620
Cap Rate (%) 3.7 3.6 3.7 3.3
  • (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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