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Yokohama Industrial land sold for 5.42 billion JPY - (16/11/2010)

Land at 43-13 Daikokucho (the parking lot on the right hand side is part of the auction site)


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 site.


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

Buyer: USS

Seller: Daikoku Distribution Center TMK (SPC of New City Corporation)

Price: 5,423,000,000 yen [$65 million]

Location: 43-13 Daikokucho, Tsurumi-ku, Yokohama City (residence indication)

Access: 15-minute drive from JR Tsurumi station

Land area: 59,746.62m2

Dealing period: October 2010 (contract)


Source: Nikkei

+ 74.14 billion JPY worth of industrial property sold in Japan in 2010 - (02/11/2010)

Bear 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.

Source: Nikkei

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