LaSalle acquires three multi-tenant modern logistics properties in Tokyo Bay area
30 July 2014 - LaSalle Investment Management today announces that it has acquired a portfolio of three multi-tenant modern logistics properties located in Higashi-Ogishima, Kawasaki City, Kanagawa Prefecture in Japan.
The acquisition took place via a fund arranged by LaSalle and backed by Japanese domestic investors.
The Higashi-Ogishima warehouses consist of three buildings A, B and C, with a total gross floor area of 388,327sqm, or approximately 8.3 times the size of the Tokyo Dome Baseball Stadium. The buildings in the portfolio are well-specified, boasting wide carriageways which allow full trailer access and ceiling heights of over 5.5 meters meeting the stringent demands of tenants. Due to the scarcity of prime, investment grade warehouses in the Tokyo Bay area, this asset is an excellent investment opportunity for core investors seeking stable income streams. The properties are currently 95.1% occupied.
The Higashi-Ogishima industrial area is conveniently located near an exit on the Metropolitan Bayshore Expressway, adjacent to the Kawasaki Port and in close proximity to the Haneda International Airport (5 kilometers) and Central Tokyo (15 kilometers). Its excellent connectivity to major land, air and sea terminals makes this area an ideal place to locate a warehouse which will provide economic benefits to businesses in the Tokyo Metropolitan area.