Center Plaza Acquires Office Building in Nihonbashi-Hamacho

Center Plaza has acquired an office building in 1-chome Nihonbashi-Hamacho, Chuo Ward, Tokyo. The seller was an individual. The company is a real estate firm headquartered in Nihonbashi-Horidomecho that operates a leasing business centered on direct-to-tenant rentals without using brokers.

The property is an eight-story office building with one basement level, of steel-reinforced concrete construction, located a two-minute walk from Hamacho Station on the Toei Shinjuku Line. It was completed in March 1990 and has a Gross Floor Area of approximately 352 tsubo (approx. 12,527 sq. ft.). Its typical floor plate is about 41 tsubo (approx. 1,458 sq. ft.).

Including its headquarters building, Dai-8 Center Plaza Building, in Horidomecho, completed in 1992, the company owns a total of six rental properties including this asset, primarily in the Horidomecho and Hamacho areas. Most are small-scale buildings with typical floor plates of less than 50 tsubo, and the company’s business model is characterized by direct leasing focused on a tightly defined submarket. Nihonbashi-Hamacho is located east of the Nihonbashi 1-chome and Muromachi areas, where large-scale redevelopment is underway in tandem with the underground relocation of the Shuto Expressway, and is an area where small office buildings with typical floor plates of under 100 tsubo are concentrated.

Key Facts

• Property Name:

  Dai-7 Center Plaza Building

• Buyer:

  Center Plaza Co., Ltd.

• Seller:

  Individual

• Location:

  1-3-12 Nihonbashi-Hamacho, Chuo Ward, Tokyo

• Nearest Station:

  Hamacho Station (Toei Shinjuku Line), 2-minute walk

• Completion:

  March 1990

• Number of Floors:

  8F / B1

• Structure:

  Steel-Reinforced Concrete

• Gross Floor Area:

  Approx. 352 tsubo (approx. 12,527 sq. ft.)

• Typical Floor Plate:

  Approx. 41 tsubo (approx. 1,458 sq. ft.)

• Ceiling Height:

  2,400 mm

• Elevators:

  1 elevator