JPR Shinsaibashi West

C-22 Other Cities Office medium Sponsor

An office building with excellent location in the Shinsaibashi area

The property is located within a 3-minute walk from Shinsaibashi Station on the Osaka Metro Midosuji Line and Nagahori Tsurumi-ryokuchi Line and a 4-minute walk from Yotsubashi Station on the Osaka Metro Yotsubashi Line, allowing three lines convenient for business to be available. As such, it features excellent access to major area in Osaka.
The Shinsaibashi area boasts high commercial prosperity with concentration of many retail stores, including brand boutiques and the shopping arcade as well as department stores. The area can thus expect demand from tenants that mainly service walk-in customers in addition to ordinary demand for offices.
The exterior of the building is serene, befitting the surrounding townscape which has a good atmosphere of cafés and shops, and the common-use area and facilities have been renovated. Furthermore, the rental space is in the shape of a rectangle, allowing for excellent efficiency as well as flexibility in layout.

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Related Press Releases

Notice Concerning Property Acquisition (Conclusion of Contract) “Minami Semba Bldg.”

Property Overview

Address Osaka, Osaka11-28 Minamisemba 4-Chome, Chuo-ku
Structure/Floors SRC  B1/8F Acquisition Price (million yen) 3,750
Total Floor Space (m2) 7,738.47 Leasable Space (m2) 5,695.71
Completed 1986-9 Standard Floor Space (m2) 695.23
Acquisition Date January 30, 2020 No. of Tenants 14
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.

Floor Plan (Japanese)

Management Status

37th 38th 39th 40th
Rental Revenues (million yen) 111 138 143 140
Rental Expenses (million yen) 22 32 55 61
NOI from Leasing (million yen) 88 105 88 79
Depreciation (million yen) 12 13 13 14
Rental Income (million yen) 75 92 74 64
Capital Expenditures (million yen) 0 9 38 115
Period-End Occupancy Rate (%) 99.9 99.9 99.9 99.9
NOI Yield (%) 5.7 5.6 4.7 4.2
NOI Yield after Depreciation (%) 4.8 4.9 4.0 3.4
Appraisal Value (million yen) 4,010 4,180 4,360 4,520
Gain or Loss from Valuation (million yen) 227 400 555 615
Cap Rate (%) 4.1 4.1 4.1 4.0
  • (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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