Sompo Japan Sendai Bldg.

C-12 Other Cities Office Large Sponsor

A peaceful, comfortable building at the East Exit of Sendai Station

This highly visible office building is located on Miyagino-dori Street running from the area around JR Sendai Station's East Exit.
The East Exit is a developing office area in Sendai, and with a new Sendai Subway line scheduled to begin operation in December 2015, it is expected to become even more dynamic.
Each floor of the building has approximately 200 tsubos and is equipped with individual air-conditioning and raised floors, providing a comfortable office environment.
It also offers superior safety thanks to its new earthquake-resistant structure and was not significantly impacted by the Great East Japan Earthquake.
The building has high demand from companies that use cars since it is easily accessible and has a mechanical parking lot that can accommodate 152 vehicles.

Access Map

Property Overview

Address Sendai, Miyagi7-35 Tsutsujigaoka 3-Chome, Miyagino-ku
Structure/Floors SRC  B1/12F Acquisition Price (million yen) 3,150
Total Floor Space (m2) 10,783.52 Leasable Space (m2) 7,132.69
Completed 1997-12 Standard Floor Space (m2) 646.27
Acquisition Date June 26, 2002 No. of Tenants 15
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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.

Floor Plan (Japanese)

Management Status

37th 38th 39th 40th
Rental Revenues (million yen) 188 193 196 197
Rental Expenses (million yen) 59 60 69 58
NOI from Leasing (million yen) 128 132 127 139
Depreciation (million yen) 31 32 32 31
Rental Income (million yen) 97 100 94 108
Capital Expenditures (million yen) 8 19 4 16
Period-End Occupancy Rate (%) 99.7 99.7 99.9 99.9
NOI Yield (%) 8.2 8.3 8.2 8.8
NOI Yield after Depreciation (%) 6.2 6.3 6.1 6.8
Appraisal Value (million yen) 4,620 4,680 4,730 4,870
Gain or Loss from Valuation (million yen) 2,288 2,361 2,439 2,594
Cap Rate (%) 4.9 4.9 4.9 4.8
  • (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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