Niigata Ekinan Center Bldg.

C-1 Other Cities Office Large Sponsor

An office building located in the heart of a redeveloped business district

Located on the corner of a major street leading to the South Exit of JR Niigata Station, this office building enjoys excellent visibility.
The South Exit area has been redeveloped by the City of Niigata as a business district combining convenience and functionality, traversed by multiple main roads.
The building is equipped with individual air-conditioning and accessible floors, with a large drive-in parking facility adjoining it.
In Niigata, where cars are the main means of transportation, being able to provide parking space is a major advantage, giving this building a significant competitive advantage that matches the needs of tenants in the area.

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Related Press Releases

Notice Concerning Change in Major Tenant (Meiji Yasuda Life Insurance Company)

Property Overview

Address Niigata, Niigata24 Yoneyama 1-Chome, Chuo-ku
Structure/Floors S, SRC  B1/10F Acquisition Price (million yen) 2,140
Total Floor Space (m2) 19,950.42 Leasable Space (m2) 5,327.50
Completed 1996-3 Standard Floor Space (m2) 915.75
Acquisition Date November 16, 2001 No. of Tenants 11
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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

37th 38th 39th 40th
Rental Revenues (million yen) 125 123 123 123
Rental Expenses (million yen) 42 48 38 44
NOI from Leasing (million yen) 82 74 85 78
Depreciation (million yen) 16 16 16 16
Rental Income (million yen) 65 57 68 61
Capital Expenditures (million yen) 44 0 6 0
Period-End Occupancy Rate (%) 100.0 100.0 98.5 100.0
NOI Yield (%) 7.7 6.9 8.0 7.3
NOI Yield after Depreciation (%) 6.2 5.4 6.5 5.7
Appraisal Value (million yen) 2,270 2,260 2,260 2,270
Gain or Loss from Valuation (million yen) 675 682 693 720
Cap Rate (%) 5.6 5.6 5.6 5.6
  • (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.

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