GLP J-REIT to Sell Logistics Facility in Tomisato, Chiba Prefecture
GLP J-REIT will sell GLP Tomisato, a logistics facility in Tomisato, Chiba Prefecture, in February 2027. The contract was executed on July 8, 2026, with a transfer price of JPY 7.2 billion. The appraisal NOI yield is approximately 4.2%.
The facility was built by Prologis in 2007 exclusively for Nippon Express, and GLP J-REIT acquired it in 2013. The building is two stories high with a gross floor area of approximately 8,326 tsubo (approx. 296,300 sq. ft.). It is located approximately 6 km from Tomisato IC on the Higashi-Kanto Expressway and offers good access to Narita Airport, with D Project Tomisato (gross floor area approx. 11,000 tsubo) and D Project Tomisato 2 (approx. 12,400 tsubo) located nearby (research by the editorial team based on estie Logistics Research).
GLP J-REIT is targeting cruising DPU growth of over 4.0%, excluding gains on sale, through the fiscal period ending August 2028, while working to further boost DPU through property sales. This transfer is part of that effort, and by leveraging its position as the logistics REIT with the largest number of properties and JPY 321.1 billion in unrealized gains, the REIT expects to realize a gain on sale of approximately JPY 2.9 billion. Following this transfer, the portfolio will consist of 85 properties, with a total acquisition price of approximately JPY 866.5 billion.
Key Facts
- Property Name: GLP Tomisato
- Seller: GLP J-REIT
- Buyer: Undisclosed
- Transfer Price: JPY 7.2 billion
- Appraisal Value: JPY 7.18 billion (as of February 28, 2026, by Tanizawa Sogo Appraisal Co., Ltd.)
- Appraisal NOI Yield: approx. 4.2%
- Location: 3-1 Misawa, Tomisato, Chiba
- Nearest IC: Approximately 6 km from Tomisato IC on the Higashi-Kanto Expressway
- Scheduled Transfer Date: February 26, 2027
- Completion: July 2007
- Number of Floors: 2F (reinforced concrete and steel-frame construction)
- Land Area: approx. 11,918 tsubo (approx. 424,100 sq. ft.) / Gross Floor Area: approx. 8,326 tsubo (approx. 296,300 sq. ft.)
- Occupancy Rate: 100.0%
