NIPPON REIT Investment Corporation

Securities code:3296

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A-24 Pigeon Building

Location 4-4, Hisamatsucho, Nihombashi, Chuo-ku, Tokyo
Access Approximately a 3-minute walk from Bakuroyokoyama Station on the Toei Subway Shinjuku Line, approximately a 3-minute walk from Higashi-nihombashi Station on the Toei Subway Asakusa Line and approximately a 6-minute walk from Bakurocho Station on the JR Sobu Line
Site area 730.94㎡
Total floor space 4,623.55㎡
Structure/Floors Steel-framed reinforced concrete with flat roof,B1/7F
Completion August 1989
Acquisition date February 12, 2015

Location Characteristics

The Horidomecho/Higashi-nihombashi zone where Pigeon Building is located has Kodenmacho Station on the Tokyo Metro Hibiya Line, Bakuroyokoyama Station on the Toei Subway Shinjuku Line, Bakurocho Station on the JR Sobu Line and Higashi-nihombashi Station on the Toei Subway Asakusa Line.
As for tenant trends, the area has the feature that companies that prioritize cost tend to gather due to its discounted rent level although it’s part of Chuo-ku. Furthermore, demand specific to the area can also be observed, such as many apparel wholesale companies being located in the concerned zone as it has flourished for years centering on the textile industry.

Property Features

Pigeon Building is approximately a 3-minute walk from Bakuroyokoyama Station on the Toei Subway Shinjuku Line, a 3-minute walk from Higashi-nihombashi Station on the Toei Subway Asakusa Line, and a 6-minute walk from Bakurocho Station on the JR Sobu Line. The Property has strong solicitation power in terms of proximity to the station and accessibility, as it is approximately a 3-minute walk to the nearest station. However, due to it being located slightly away from main streets, it is slightly inferior in terms of visibility.
Pigeon Building is categorized as a mid-sized building as it has a total floor space of around 1,500 tsubos and standard floor area of approximately 140 tsubos. As many office buildings located in the Horidomecho/Higashi-nihombashi zone are small-sized buildings with less than 1,000 tsubos of total floor space, the size of Pigeon Building is slightly greater than that of buildings in the volume zone (zone with largest distribution). Therefore, its size is likely to be highly evaluated.

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