GRAND FRONT OSAKA(Umekita Plaza and South Building)

C-23 Other Cities Office Very large Sponsor

A rare, large-scale commercial complex composed mainly of offices, retail outlets and a hotel

GRAND FRONT OSAKA is directly connected to JR Osaka Station via a pedestrian deck and close to Osaka Umeda Station on the Hankyu lines, Hanshin lines, and Umeda Station on Osaka Metro Lines and has excellent transportation convenience.
GRAND FRONT OSAKA (Umekita Plaza and South Building) comprises the South Building that houses offices and retail outlets and Umekita Plaza mainly composed of commercial establishments.
While the office floors of the respective buildings feature regular-shaped, non-pillar spaces, the buildings are equipped with excellent seismic performance and 72-hour emergency power generating facilities, boasting the largest- and highest-level office specifications in the Kansai region.
Further, they adopt highly effective CO2 reduction technologies, including natural ventilation, a highly efficient heat source, and a photovoltaic power generation system, while building a network of BEMS (Buildings Energy Management System) deployed in the respective buildings, thereby unifying the management of energy consumption of the whole property. On top of these, through the system called TMO (Town Management Organization), CO2 reduction management is conducted for the whole city in a bid to create a low carbon society.

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Related Press Releases

Notice Concerning Acquisition and Sale of Properties (Conclusion of Contracts) (Acquisition of “GRAND FRONT OSAKA” and “Tokyo Tatemono Higashi Shibuya Bldg.” and Sale of “Tokyo Tatemono Honmachi Bldg.” and “JPR Umeda Loft Bldg.”)

Property Overview

Address Osaka, Osaka4-1 Ofuka-cho, Kita-ku (Umekita Plaza), 4-20 (South Building)
Structure/Floors RC, SRC  B2/2F, B3/38F Acquisition Price (million yen) 11,800
Total Floor Space (m2) 191,597.49 Leasable Space (m2) 5,290.60
Completed 2013-2 Standard Floor Space (m2) 2,678.27
Acquisition Date December 24, 2021 No. of Tenants 239
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 “Total Floor Space” indicates the sum of area that is Umekita Plaza and South Building.
  • * Umekita Plaza: 10,226.10㎡, South Building: 181,371.39㎡
  • (Note6) The “Standard Floor Space” indicates the area of Tower A.
  • (Note7) JPR owns 4.9% equity interest of the Property.

Floor Plan (Japanese)

Management Status

37th 38th 39th 40th
Rental Revenues (million yen) - - - -
Rental Expenses (million yen) - - - -
NOI from Leasing (million yen) - - - 10
Depreciation (million yen) - - - 6
Rental Income (million yen) - - - 4
Capital Expenditures (million yen) - - - 0
Period-End Occupancy Rate (%) - - - 97.5
NOI Yield (%) - - - 4.2
NOI Yield after Depreciation (%) - - - 1.8
Appraisal Value (million yen) - - - 12,300
Gain or Loss from Valuation (million yen) - - - 441
Cap Rate (%) - - - 3.2
  • (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.
  • (Note7)Due to unavoidable circumstances, the sum total of rental revenues and the sum total of rental expenses, etc. of the property are not disclosed.

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