Kawasaki Dice Bldg.

B-6 Greater Tokyo Retail Sponsor

The urban, commercial facility stands in a busy and prime location in front of Kawasaki Station

This commercial facility occupies a prime location in front of JR Kawasaki Station--one of the busiest stations in the Tokyo area--and Keikyu Kawasaki Station on the Keihin Keikyu Line. JPR sponsor Tokyo Tatemono was involved in its construction as part of an urban redevelopment project.

The building attracts many visitors and is tenanted by supersized stores such as Toho Cinemas with nine screens and the second GU store in the Tokyo metropolitan area, in addition to Tsutaya, Uniqlo, Tokyu Hands and many others.

Access Map

Related Press Releases

2005.12.20
Notice Concerning Execution of a Purchase Agreement in Connection with the Acquisition of Kawasaki Dice Special Purpose Company Certificates
2006.2.07
Amendment to the "Notice Concerning Execution of a Purchase Agreement in Connection with the Acquisition of Kawasaki Dice Special Purpose Company Certificates"

Property Overview

Address Kawasaki, Kanagawa8-3 Ekimae, Kawasaki-ku
Structure/Floors S, SRC, RC  B2/11F Acquisition Price (million yen) 15,080
Total Floor Space (m2) 36,902.01 Leasable Space (m2) 12,067.44
Completed 2003-8 Standard Floor Space (m2) 3,023.62
Acquisition Date April 12, 2007 No. of Tenants 28
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 total floor space indicates the area for the entire redevelopment project according to the registration.

Management Status

32nd 33rd 34th 35th
Rental Revenues (million yen) 501 502 478 489
Rental Expenses (million yen) 149 201 188 157
NOI from Leasing (million yen) 351 300 290 332
Depreciation (million yen) 114 114 115 115
Rental Income (million yen) 237 186 175 216
Capital Expenditures (million yen) 1 3 38 13
Period-End Occupancy Rate (%) 100.0 86.9 95.6 97.9
NOI Yield (%) 4.6 4.0 3.8 4.4
NOI Yield after Depreciation (%) 3.1 2.5 2.3 2.9
Appraisal Value (million yen) 16,500 16,200 16,200 16,200
Gain or Loss from Valuation (million yen) 3,063 2,874 2,951 3,053
Cap Rate (%) 4.2 4.2 4.2 4.1
  • (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.

Print Property Information