NIPPON REIT Investment Corporation

Securities code:3296

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A-13 Higashi Ikebukuro Center Building

Location 41-24, Higashi-Ikebukuro 4-chome, Toshima-ku, Tokyo
Access Approximately a seven-minute walk from Otsuka Station on the JR Yamanote Line and within walking distance from Shin-Otsuka Station on the Tokyo Metro Marunouchi Line, Higashi-Ikebukuro Station on the Tokyo Metro Yurakucho Line and Mukohara Station on the Toei Streetcar Arakawa Line, respectively
Site area 1,041.25㎡
Total floor space 5,641.14㎡
Structure/Floors Steel-framed reinforced concrete, steel-framed structure/flat roof and zinc-coated steel roof, B1/9F
Completion November 1991
Acquisition date April 24, 2014

Location Characteristics

Higashi Ikebukuro Center Building is located in the Ikebukuro area, one of the subcenters of Tokyo. The area has developed as a point of importance in the northwestern part of Tokyo, centering on Ikebukuro Station, which is one of the world’s largest terminal stations and where various train lines including JR, Tobu, Seibu and Tokyo Metro offer services.

The area around Ikebukuro Station is a commercial district, which is one of the largest in Tokyo, formed with a concentration of large retail facilities such as Seibu Department Store and Tobu Department Store, many retail shops and restaurants, cinemas and theaters, among other facilities. Sunshine City, a multi-use retail facility to the east of the station is particularly famous, and Sunshine 60, a skyscraper in the facility, continues to serve as a landmark of the area.

In terms of the office market, one of the characteristics of the area is that demand is strong from local companies including the department stores and railway-related firms, while demand is also strong for base offices in the northwestern part of Tokyo. As such clients often relocate their offices within the same area, demand seldom goes out of the Ikebukuro area. In addition, the area has fewer newly-built buildings compared with other major office districts. This is why the supply and demand balance is relatively stable in the area, without any surge of supply to cause a major excess supply.

Property Features

Higashi Ikebukuro Center Building is approximately a seven-minute walk from Otsuka Station on the JR Yamanote Line, and is within walking distance from Shin-Otsuka Station on the Tokyo Metro Marunouchi Line, Higashi-Ikebukuro Station on the Tokyo Metro Yurakucho Line and Mukohara Station on the Toei Streetcar Arakawa Line, respectively.

The Property stands along the Kasuga-Dori street, at a place providing good visibility, and has a parking lot that can hold as many as 32 vehicles. Due to this, the Property should have an appeal to clients in the business categories that frequently use vehicles in their operations.

The basic facilities of the building are kept at a level that sufficiently meets the tenant requirements for typical office use. Moreover, it has undergone renovation works for its common areas and appearance as needed. In particular, the entrance uses stone materials to provide a sense of excellence to a certain degree.

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