Tokyo Square Garden

A-26 Tokyo CBDs Office Very large Sponsor

An environmentally-friendly office building located in the new base area in front of Tokyo Station

In the area from JR Tokyo Station Yaesu Exit to Kyobashi, further enhancement of potential is expected as multiple redevelopment projects are progressing in recent years, transforming the area into one of the best office districts in Tokyo.
The property is located in the intersection between Chuo-dori and Kajibashi-dori and has excellent visibility. It has excellent traffic convenience such as being directly connected to Kyobashi Station on the Tokyo Metro Ginza Line.
The property is a large-scale office building with a gross floor area of approximately 34,000 tsubo and a floor plate of more than 1,000 tsubo. The column-free rental room enables various office layouts.
Seismic performance which is 1.25 times the seismic motion defined in the structural calculation standard of super high rise structures is secured due to the adoption of concentrated vibration control system.
International Medical Zone that provides the latest medical services and childcare supporting facilities that support both childcare and work are established on the lower floors and the property aims to enrich facilities responding to various office needs.

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Related Press Releases

Notice Concerning Property Acquisition (Conclusion of Contract)“Tokyo Square Garden”

Property Overview

Address Chuo-ku, Tokyo1-1 Kyobashi 3-Chome
Structure/Floors S,SRC  B4/24F Acquisition Price (million yen) 18,400
Total Floor Space (m2) 112,645.83 Leasable Space (m2) 5,971.73
Completed 2013-2 Standard Floor Space (m2) 3,465.34
Acquisition Date February 1, 2017
April 4, 2017
No. of Tenants 47
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) JPR owns 8.22% equity interest of the Property.
  • (Note6)As of Mar. 2022, the "Leasable space" was changed from 5971.73 to 5971.69.

Floor Plan (Japanese)

Management Status

37th 38th 39th 40th
Rental Revenues (million yen) 421 396 396 356
Rental Expenses (million yen) 109 116 107 114
NOI from Leasing (million yen) 311 279 289 242
Depreciation (million yen) 43 43 43 44
Rental Income (million yen) 268 236 245 197
Capital Expenditures (million yen) 4 0 6 30
Period-End Occupancy Rate (%) 99.3 100.0 91.5 91.5
NOI Yield (%) 3.4 3.0 3.2 2.6
NOI Yield after Depreciation (%) 2.9 2.6 2.7 2.1
Appraisal Value (million yen) 21,400 21,300 21,400 20,800
Gain or Loss from Valuation (million yen) 2,942 2,885 3,006 2,436
Cap Rate (%) 2.6 2.6 2.6 2.6
  • (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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