JPR Hakata Bldg. (Sold in March 29, 2021)

C-7 Other Cities Office Medium-size Sponsor

An office building near Hakata Station with a diverse tenant mix

This office building is located along Taihaku-dori Street in front of JR Hakata Station, the gateway to Fukuoka City.
It connects directly to an underground passage leading to Hakata Station and Gion subway station, allowing visitors to access it without getting wet on rainy days. It also offers convenient access to the expressway, and enjoys strong demand as a base for major companies and service companies expanding across Japan.
Its tiled exterior and stone entrance give it a stately appearance. Each floor has 160 tsubos or more of space, which can be divided into sections as small as approximately 20 tsubos, enabling it to accommodate a variety of tenants.

Access Map

Related Press Releases

Notice Concerning Acquisition and Sale of Properties (Conclusion of Contracts) Acquisition of “Otemachi Financial City North Tower” and Sale of “JPR Hakata Bldg.”
Notice Concerning Completion of Property Sale "JPR Hakata Bldg."

Property Overview

Address Fukuoka, Fukuoka4-4 Hakataekimae 1 Chome, Hakata-ku
Structure/Floors S, RC/S  B1/12F/平屋 Acquisition Price (million yen) 1,885
Total Floor Space (m2) 9,828.73 Leasable Space (m2) 4,278.67
Completed 1985-6 Standard Floor Space (m2) 540.22
Acquisition Date November 16, 2001 No. of Tenants 41
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 total floor space indicates the sum area of the office building and parking space.
  • (Note6)As of Jan. 2021, the "Leasable space" was changed from 4278.67 to 4278.85.

Floor Plan (Japanese)

Management Status

35th 36th 37th 38th
Rental Revenues (million yen) 162 168 171 173
Rental Expenses (million yen) 63 61 60 75
NOI from Leasing (million yen) 99 107 110 97
Depreciation (million yen) 35 35 36 36
Rental Income (million yen) 63 71 74 61
Capital Expenditures (million yen) 12 30 9 24
Period-End Occupancy Rate (%) 100.0 100.0 97.9 98.9
NOI Yield (%) 6.9 7.3 7.7 6.8
NOI Yield after Depreciation (%) 4.4 4.9 5.2 4.3
Appraisal Value (million yen) 3,920 3,920 3,980 2,580
Gain or Loss from Valuation (million yen) 987 992 1,078 701
Cap Rate (%) 4.3 4.3 4.3 4.3
  • (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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