Yurakucho Ekimae Building (Yurakucho Itocia)
Itocia—a large-scale multi-purpose facility in front of Yurakucho Station
This multi-purpose facility is located in the heart of the Yurakucho Station area, which has become increasingly popular in recent years thanks to renovations to existing buildings and the opening of new stores.
JPR acquired Itocia by leveraging the sponsor pipeline of Taisei Corporation, which participated in the Itocia development. It is occupied by Marui, a department store that is extremely popular, especially among younger shoppers; as the flagship store, it boasts the most floor space of any branch in Tokyo. It has helped to make the Yurakucho area even more dynamic.
JPR is carefully identifying and investing in urban retail facilities such as this which are favorably located in busy districts near major stations.
Routes from Nearby Stations
Click the station names below and you can see the route from the relevant station to the property.
- 100m from Yurakucho Station on the JR Keihin Tohoku Line
- 100m from Yurakucho Station on the JR Yamanote Line
- 120m from Ginza Station on the Tokyo Metro Marunouchi Line
- 230m from Yurakucho Station on the Tokyo Metro Yurakucho Line
- 250m from Ginza Station on the Tokyo Metro Hibiya Line
- 280m from Ginza 1-chome Station on the Tokyo Metro Yurakucho Line
Related Press Releases
|Address||Chiyoda-ku, Tokyo7-1 Yurakucho 2 Chome|
|Structure/Floors||S, SRC B4/20F||Acquisition Price (million yen)||3,400|
|Total Floor Space (m2)||71,957.65||Leasable Space (m2)||1,101.92|
|Completed||2007-10||Standard Floor Space (m2)||3,251.74|
|Acquisition Date||August 27, 2008||No. of Tenants||1|
- (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.
|Rental Revenues (million yen)||-||-||-||-|
|Rental Expenses (million yen)||-||-||-||-|
|NOI from Leasing (million yen)||53||53||52||52|
|Depreciation (million yen)||6||6||6||6|
|Rental Income (million yen)||47||47||46||46|
|Capital Expenditures (million yen)||0||0||0||0|
|Period-End Occupancy Rate (%)||100.0||100.0||100.0||100.0|
|NOI Yield (%)||3.2||3.1||3.1||3.1|
|NOI Yield after Depreciation (%)||2.8||2.7||2.7||2.7|
|Appraisal Value (million yen)||3,060||3,140||3,240||3,300|
|Gain or Loss from Valuation (million yen)||-261||-175||-69||-2|
|Cap Rate (%)||3.3||3.2||3.1||3.0|
- (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.
- (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.