Tanashi ASTA

B-1 Greater Tokyo Retail Sponsor

A building with the largest retail floor space in its area

This is a commercial facility occupied by Seiyu, a large-scale retailer, in front of Tanashi Station on the Seibu-Shinjuku Line.
Conveniently located 20 minutes away from Seibu Shinjuku Station by express train, Tanashi Station is one of the busiest stations on its line, and the area's population is increasing at a rapid rate. The building is adjacent to the station and, with over 9,000 tsubos, boasts the most retail floor space in the district.

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Property Overview

Address Nishitokyo, Tokyo 1-1 Tanashicho 2-Chome
Structure/Floors SRC  B2/17F Acquisition Price (million yen) 10,200
Total Floor Space (m2) 80,675.27 Leasable Space (m2) 31,121.71
Completed 1995-2 Standard Floor Space (m2) 5,057.84
Acquisition Date November 16, 2001 No. of Tenants 1
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  • (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) - - - -
Rental Expenses (million yen) - - - -
NOI from Leasing (million yen) 507 335 335 335
Depreciation (million yen) 40 40 40 40
Rental Income (million yen) 467 294 295 295
Capital Expenditures (million yen) 0 0 0 0
Period-End Occupancy Rate (%) 100.0 100.0 100.0 100.0
NOI Yield (%) 10.0 6.5 6.6 6.5
NOI Yield after Depreciation (%) 9.2 5.7 5.8 5.7
Appraisal Value (million yen) 11,000 11,000 11,000 11,000
Gain or Loss from Valuation (million yen) 3,896 3,937 3,977 4,018
Cap Rate (%) 5.2 5.2 5.2 5.2
  • (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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