Cupo-la Main Bldg.

B-3 Greater Tokyo Retail Sponsor

A commercial facility next to Kawaguchi Station with top-class commercial appeal

JPR acquired this multi-purpose retail building by leveraging the pipeline of one of its sponsors, Taisei Corporation, which was involved in urban redevelopment of the area.
Located by the East Exit of busy JR Kawaguchi Station, it boasts top-class commercial appeal in the station area. The upper floors are occupied by public facilities such as the Kawaguchi City Central Library and Administration Center. Thanks to its commercial appeal combined with users of these facilities, it has an excellent location, and occupancy is expected to remain stable in future.

Access Map

Related Press Releases

2004.9.24
Notice Cocerning Execution of a Purchase Agreement in Connection with the Acquisition of the Cupo-la Main Building (1-1 Kawaguchi Redevelopment Project)
2006.3.31
Notice Concerning Acquisition of the Cupo-la Main Building

Property Overview

Address Kawaguchi, Saitama1-1 Kawaguchi 1 Chome
Structure/Floors S, RC, SRC  B2/10F Acquisition Price (million yen) 2,100
Total Floor Space (m2) 48,321.96 Leasable Space (m2) 5,963.00
Completed 2006-1 Standard Floor Space (m2) 1,994.00
Acquisition Date March 31, 2006 No. of Tenants 1
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.
  • (Note5) The above site area indicates the area of the entire redevelopment project, and the total floor space indicates the area for the Cupo-la Main Bldg.

Management Status

30th 31st 32nd 33rd
Rental Revenues (million yen) - - - -
Rental Expenses (million yen) - - - -
NOI from Leasing (million yen) 72 74 74 74
Depreciation (million yen) 17 17 17 17
Rental Income (million yen) 55 57 56 57
Capital Expenditures (million yen) 0 0 0 0
Period-End Occupancy Rate (%) 100.0 100.0 100.0 100.0
NOI Yield (%) 6.9 7.2 7.0 7.2
NOI Yield after Depreciation (%) 5.2 5.5 5.4 5.5
Appraisal Value (million yen) 2,710 2,750 2,800 2,800
Gain or Loss from Valuation (million yen) 961 1,018 1,086 1,104
Cap Rate (%) 5.6 5.3 5.2 5.2
  • (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.

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