Shibadaimon Center Building

A-25 Tokyo CBDs Office Large Sponsor

Excellent access to transportation serving a wide area, including Haneda Airport

This building is located in the business district of Hamamatsucho/Shiba in the Shibadaimon area, which offers excellent access to transportation serving a wide area.
As a result, the district is home to many Tokyo branches of regional companies and manufacturing-related businesses, so there is steady demand from tenants. Conveying a strong impression of quality with its distinctive terraced exterior, white-toned entrance, and bright common areas, the building possesses a strong competitive advantage.

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Related Press Releases

Notice Concerning Property Acquisition (Conclusion of Contract) "Shibadaimon Center Building"
Notice Concerning Property Acquisition (Conclusion of Contract) "Shibadaimon Center Building (additional ownership)"

Property Overview

Address Minato-ku, Tokyo10-11 Shibadaimon 1-Chome
Structure/Floors S,SRC  B1/10F Acquisition Price (million yen) 4,213
Total Floor Space (m2) 11,419.93 Leasable Space (m2) 5,401.48
Completed 1993-7 Standard Floor Space (m2) 693.09
Acquisition Date December 6, 2013
July 30, 2014
No. of Tenants 9
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.

Management Status

37th 38th 39th 40th
Rental Revenues (million yen) 188 186 163 181
Rental Expenses (million yen) 45 68 49 55
NOI from Leasing (million yen) 143 117 113 125
Depreciation (million yen) 15 16 17 17
Rental Income (million yen) 127 100 95 108
Capital Expenditures (million yen) 23 37 7 9
Period-End Occupancy Rate (%) 100.0 84.3 100.0 100.0
NOI Yield (%) 6.8 5.5 5.4 5.9
NOI Yield after Depreciation (%) 6.1 4.7 4.6 5.1
Appraisal Value (million yen) 6,170 6,180 6,290 6,530
Gain or Loss from Valuation (million yen) 2,015 2,004 2,124 2,378
Cap Rate (%) 3.5 3.5 3.5 3.4
  • (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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