NIPPON REIT Investment Corporation

Securities code:3296

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A-2 Nihombashi Playa Building

Location 9-12, Nihombashi Hamacho 1-chome, Chuo-ku, Tokyo
Access Approximately a three-minute walk from Hamacho Station on the Toei Subway Shinjuku Line
Site area 539.32㎡
Total floor space 2,956.10㎡
Structure/Floors Steel-framed structure/flat roof, 7F
Completion February 2009
Acquisition date March 29, 2011

Location Characteristics

Nihombashi Playa Building is located in the Nihombashi Hamacho area that spreads from north to south along the Sumida River, east of Ningyocho that is a famous sightseeing spot. Originally a residential district, the area currently has rows of office buildings along such main streets as Kiyosubashi-Dori street, while the landscape on the backstreets has a mix of small- and medium-sized buildings, condominiums and wooden houses.

Several railway lines are available in the area, with Hamacho Station and Bakuro Yokoyama Station on the Toei Subway Shinjuku Line and Higashi-Nihombashi Station on the Toei Subway Asakusa Line, while Ningyocho Station on the Tokyo Metro Hibiya Line can be used by walking to Ningyocho.

The area originally had a concentration of wholesaling companies centering on the textile business. Due to this atmosphere and few development projects being newly conducted in recent years, demand for office space remained stagnant for a long time. However, lease contracts are being concluded in recent years for office buildings that are relatively newly built and have a certain level of size, including a major pharmaceutical company and a food company having relocated their offices to this area.

Property Features

Nihombashi Playa Building is located near the Sumida River along the Kinza-Dori street, on the eastern side of the Kiyosubashi-Dori street. It is approximately a three-minute walk from Hamacho Station on the Toei Subway Shinjuku Line, the nearest station, and within walking distance from Higashi-Nihombashi Station on the Toei Subway Asakusa Line and Ningyocho Station on the Tokyo Metro Hibiya Line. Although the area is less busy and thriving than typical office districts, the surrounding environment is favorable, with Hamacho Park, one of the representative parks in Chuo Ward, in the neighborhood.

The building, a medium-sized building with a standard floor area of 116 tsubos, is relatively new (completed in 2009) and features a high scarcity value over the neighboring areas with plenty of buildings that were built many years ago. In addition, as the spaces for lease are highly versatile with basically regular shape and the basic facilities have been prepared at a relatively high level, the Property should have a certain competitive edge in the area.

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