Yokohama Distribution Center
Location
Yokohama, Kanagawa – Tokyo waterfront
Type
Investment – Value Add
Asset Type
Warehouse & Distribution Facility
Land Area
10,556 m²
Gross Floor Area
18,404 m²
Completion
October, 1994
Structure
SRC
Closing
December, 2014
Exit
June, 2015
Investment Highlights:
- Prime Tokyo waterfront logistics locations
- Shortage of land sites in sub markets to build new capacity
- Functional warehouse and distribution facility
- Achieved 100% warehouse occupancy prior to closing
- Passing rents better than underwritten rents
- Refreshed the appearance of the asset
- Non-bid, exclusive basis – long standing relationship with the seller
The asset is located about 25 km South-West of Tokyo and is situated in the Kanagawa Bay submarket of Kanagawa, which is an important waterfront logistics location within the Tokyo Metropolitan Area. The coastal area is part of the Keihin Industrial Zone, and is the most industrialized region within Yokohama.
The site’s location is widely viewed as one of the best sub-markets for accessing the Tokyo CBD, Yokohama CBD and Kanagawa areas. In addition to benefiting from direct access to the major metropolitan trunk arteries, the site benefits from its close proximity to Haneda Airport, the ports of Tokyo and Yokohama, and several JR cargo terminal stations as well as regular-route truck terminals.