Yokohama Industrial land sold for 5.42 billion JPY - (16/11/2010)
at 43-13 Daikokucho (the parking lot on the right hand side is part of the
USS, an operator of used car auctions, decided to acquire about 60,000 m2 of
land in Daikokucho, Tsurumi-ku, Yokohama
City. The price is 5.42
billion yen [$65 million] and the seller is a special purpose company of New
City Corporation, which ceased operations in May 2009.
The land is about 4 km from
central Yokohama and is located near the Daikoku Wharf. It is a three-minute drive from
the exit of the Daikoku Junction on the Tokyo Metropolitan Expressway Coastal
Line and a 15-minute bus ride from JR Tsurumi Station.
It is surrounded by a number
of factories and warehouses and is adjacent to the Yokohama auction site of USS, the buyer. USS
will use the acquired land as a yard for vehicles for auction at the auction
Including the plot sold this
time, New City
acquired approximately 230,000 m2 of land in March 2006 for about 20 billion yen
[$240 million] and was planning to construct four warehouses on the land. One
of the planned warehouses has already been completed and is being operated.
[Outline of Dealing]
Name: Land at 43-13 Daikokucho
Seller: Daikoku Distribution
Center TMK (SPC of New City Corporation)
Price: 5,423,000,000 yen [$65
Location: 43-13 Daikokucho,
Access: 15-minute drive from
JR Tsurumi station
Land area: 59,746.62m2
Dealing period: October 2010
+ 74.14 billion JPY worth of industrial property sold in Japan in 2010 - (02/11/2010)
Logi Co., Ltd has released a series of new logistics property market reports
for 2010. One of the studies revealed that 14 logistics
property transactions were recorded in the year to October 2010
at a combined value of JPY 74.14 Billion.
5 of the 14 properties
were bought by Mapletree Logistics Trust, a Singaporean S-REIT. LaSalle
Investment Management also purchased 4 properties in the Tokyo Bay
area. 2 properties were bought J-REITs.
Greater Tokyo remains the focus
of investors with most of the transactions occurring in Kanto region. The
combined total transaction amount was JPY 74.14 Billion with an
average NOI Cap rate of 6.6%.
+ Mitsui takes acquires Tokyo industrial property - (25/10/2010)
Mitsui Fudosan Residential acquired a former food
warehouse in Toyosu, Koto-ku, Tokyo.
The seller was Simplex Investment Advisors, a Goldman Sachs and Aetos Capital
affiliate. Mitsui has not revealed its plans for the property. The property has
six stories above ground and 10,347 m2 of total floor space.