NIPPON REIT Investment Corporation

Securities code:3296

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A-37 Itabashi Honcho Building

Location 36-1, Shimizucho, Itabashil-ku, Tokyo
Access Approximately a 3-minute walk from Itabashi Honcho Station on the Toei Subway Mita Line
Site area 1,645.77㎡ (Note 1)
Total floor space 8,237.40㎡
Structure/Floors Steel-framed reinforced concrete ・steel-framed structure with flat roof,8F
Completion January 1993
Acquisition date February 12, 2015
(Note 1)Including a private road burden portion (approximately 34.15 m2) pursuant to Article 42, Paragraph 2 of the Building Standards Act.
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Location Characteristics

The concerned zone is a submarket of the adjacent Ikebukuro area and depends on the overflow of demand.
Companies that use cars including commercial vehicles or companies related to manufacturers can be expected as those demanding office spaces within the concerned zone.
Although there are the Toei Subway Mita Line, Tobu Tojo Line, JR Saikyo Line and such running through the surrounding area of Itabashi Honcho Station on the Toei Subway Mita Line, all of these train routes have the strong characteristic of being train routes for commuting. Thus, demand for office space will be mainly from business types that establish sales offices targeting residents of the surrounding residential districts, clinics and businesses related to education and studying. Furthermore, as offices related to paper or printing and small- and mid-sized businesses related to such are concentrated to a certain extent in Itabashi Ward, demand from these can also be expected.

Property Features

The Itabashi Honcho Building is located approximately a 3-minute walk from Itabashi Honcho Station on the Toei Subway Mita Line and along Nakasendo Highway. It boasts high solicitation power in terms of its close proximity to the station and accessibility, due to the location being approximately a 3-minute walk from the nearest station. In addition, it can also be said to have high visibility as a building facing the main street. However, as the location basically excels in being an environment for a residential district, demand from ordinary tenants are limited.
Itabashi Honcho Building is categorized as a mid-sized building as it has a total floor space of around 2,700 tsubos and a standard floor area of around 260 tsubos. Floors are U-shaped (regularly shaped) without pillars, highly versatile in terms of layout and the building has high space use efficiency. As many office buildings located in the Otsuka zone are small-sized buildings with less than 1,000 tsubos of total floor space, the Itabashi Honcho Building is of top-ranking size in the concerned area and is expected to be able to exert its superiority in terms of size. Furthermore, it is also comparatively new in the concerned area and expected to have high competitive advantage as well.
The building is equipped with standard specifications that meet tenant needs.
The parking lot secures sufficient capacity of 51 units (mechanical and flat lot). In this regard, the building is expected to be evaluated highly mainly from tenants who prioritize car usage.

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