Ares Management Acquires Three Logistics Properties in Japan

A real estate fund managed by Ares Management Corporation has acquired three fully leased logistics facilities in Japan that are occupied by major domestic third-party logistics providers. The move is intended to strategically expand the portfolio through the acquisition of third-party assets developed by sponsors other than the Japan GLP Group.

The acquired properties are Marq Kawasaki 3 (tentative name), Marq Hirakata 5 (tentative name), and Marq Kashiwa 3 (tentative name). All three are four-story box-type or ramp-access logistics facilities. Marq Kawasaki 3 (tentative name), located in Kawasaki, Kanagawa Prefecture, has a gross floor area of approximately 7,190 tsubo (approx. 237,686 sq. ft.) and sits in a prime logistics area with access to central Tokyo in about 30 minutes via the Metropolitan Expressway network.

Marq Hirakata 5 (tentative name), located in Hirakata, Osaka Prefecture, has a gross floor area of approximately 2,013 tsubo (approx. 66,545 sq. ft.) and offers convenient access from the Hirakata-Higashi and Hirakata-Gakken interchanges on the Daini Keihan Road. GLP Hirakata III is located on the adjacent site, creating potential synergies with the existing asset. Marq Kashiwa 3 (tentative name), located within the Shonan Kazahaya Industrial Park in Kashiwa, Chiba Prefecture, has a gross floor area of approximately 9,112 tsubo (approx. 301,223 sq. ft.) and is well positioned for wide-area distribution across the Greater Tokyo area due to its proximity to National Route 16.

Japan GLP intends to actively pursue acquisitions of third-party properties, capitalizing on the off-balance-sheet trend among operating companies and serving as an acquirer of real estate assets arising from restructuring in the logistics sector.

Key Facts

• Buyer:

  Fund managed by Ares Management Corporation

• Seller:

  Undisclosed

• Property Name: Marq Kawasaki 3 (tentative name)

  • Location:

    3-1 Shiraishi-cho, Kawasaki-ku, Kawasaki, Kanagawa Prefecture

  • Nearest Station:

    Within walking distance of Musashi-Shiraishi Station on the JR Tsurumi Line

  • Completion:

    January 2017

  • Number of Floors:

    4F

  • Structure:

    Steel-frame

  • Site Area:

    Approx. 3,546 tsubo (approx. 117,223 sq. ft.)

  • Gross Floor Area:

    Approx. 7,190 tsubo (approx. 237,686 sq. ft.)

• Property Name: Marq Hirakata 5 (tentative name)

  • Location:

    1-27 Nagaodanimachi, Hirakata, Osaka Prefecture

  • Nearest IC:

    Hirakata-Higashi IC and Hirakata-Gakken IC on the Daini Keihan Road

  • Completion:

    June 2025

  • Number of Floors:

    4F

  • Structure:

    Steel-frame

  • Site Area:

    Approx. 977 tsubo (approx. 32,298 sq. ft.)

  • Gross Floor Area:

    Approx. 2,013 tsubo (approx. 66,545 sq. ft.)

• Property Name: Marq Kashiwa 3 (tentative name)

  • Location:

    1-9-1 and 1-9-6 Kazahaya, Kashiwa, Chiba Prefecture

  • Nearest IC:

    In close proximity to National Route 16

  • Completion:

    February 2024

  • Number of Floors:

    4F

  • Structure:

    Steel-frame

  • Site Area:

    Approx. 4,217 tsubo (approx. 139,405 sq. ft.)

  • Gross Floor Area:

    Approx. 9,112 tsubo (approx. 301,223 sq. ft.)