Shinyokohama 2nd Center Bldg.

B-5 Greater Tokyo Office Medium-size Outside

An office building suited to diverse tenant needs that also offers access to the shinkansen line

In the project for constructing a railway track directly connecting between Sotetsu and Tokyu lines, Shin-Yokohama is a very promising area and will attract more attention as a new train station is scheduled to open near Shin-Yokohama Station.
A 5-minute walk from the JR Shin-Yokohama Station, a Shinkansen stop, the visually outstanding building is located along the main street that extends from the station northwest.
The building is completely equipped with a mechanical parking space and can also be expected to satisfy demand from companies that require the frequent use of vehicles.
As such, it has a strong competitive advantage in the area. The building, tenanted by many foreign-affiliated companies, has an expansive entrance, a meticulous management system and other features suited to a diverse range of needs from tenants.

Access Map

Related Press Releases

2013.3.27
Notice Concerning Property Acquisition (Conclusion of Contract) "Shinyokohama 2nd Center Building (additional ownership)"

Property Overview

Address Yokohama, Kanagawa 19-5 Shinyokohama 3 Chome Kohoku-ku
Structure/Floors S, SRC  B2/12F Acquisition Price (million yen) 1,490
Total Floor Space (m2) 7,781.93 Leasable Space (m2) 5,284.75
Completed 1991-8 Standard Floor Space (m2) 473.38
Acquisition Date September 25, 2002
March 28, 2013
No. of Tenants 21
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

36th 37th 38th 39th
Rental Revenues (million yen) 107 108 109 105
Rental Expenses (million yen) 38 35 38 42
NOI from Leasing (million yen) 68 73 71 62
Depreciation (million yen) 17 18 18 18
Rental Income (million yen) 51 54 52 43
Capital Expenditures (million yen) 17 11 12 8
Period-End Occupancy Rate (%) 98.1 100.0 96.9 98.1
NOI Yield (%) 9.2 9.8 9.5 8.5
NOI Yield after Depreciation (%) 6.8 7.4 7.0 5.9
Appraisal Value (million yen) 2,310 2,330 2,350 2,380
Gain or Loss from Valuation (million yen) 886 913 940 980
Cap Rate (%) 4.5 4.5 4.5 4.5
  • (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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