Gotanda First Bldg.

A-7 Tokyo CBDs Office Large Sponsor

A fully equipped building with a competitive edge in the area

Located at the west exit of JR Gotanda Station in an extensive office district centering on the Dai-ichi Keihin highway and Yamate-dori Street, this office building has a distinctive, highly recognizable gray aluminum exterior.
It has an average floor space of approximately 180 tsubos per floor, and thanks to major renovations, including the air-conditioning system, it is highly competitive in terms of facilities and specifications, even in this area with many other medium-scale buildings.
The convenient location, just a 3-minute walk from Gotanda Station, is another attractive feature.

Access Map

Related Press Releases

Notice Concerning Acquisition of Gotanda First Building
Notice Concerning Change in Tenant

Property Overview

Address Shinagawa-ku, Tokyo8-1 Nishigotanda 2 Chome
Structure/Floors SRC, RC  B2/11F Acquisition Price (million yen) 2,920
Total Floor Space (m2) 10,553.34 Leasable Space (m2) 4,241.22
Completed 1989-7 Standard Floor Space (m2) 592.14
Acquisition Date July 23, 2003 No. of Tenants 4
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) 16 104 119 124
Rental Expenses (million yen) 93 46 38 38
NOI from Leasing (million yen) -77 58 80 86
Depreciation (million yen) 13 23 23 23
Rental Income (million yen) -90 35 57 63
Capital Expenditures (million yen) 403 1 12 4
Period-End Occupancy Rate (%) 70.7 91.4 100.0 100.0
NOI Yield (%) -5.2 4.0 5.5 6.0
NOI Yield after Depreciation (%) -6.1 2.5 3.9 4.4
Appraisal Value (million yen) 2,470 2,470 2,520 2,630
Gain or Loss from Valuation (million yen) -565 -543 -482 -290
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.

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