GLP J-REIT Acquires Logistics Facility in Minamiashigara, Kanagawa

GLP J-REIT will acquire “Marq Minamiashigara,” a logistics facility in Minamiashigara, Kanagawa Prefecture, on March 31, 2026. The acquisition price is JPY 2,000 million. The seller is Fujifilm Logistics Co., Ltd., which will remain in the property as a tenant under a 12-year long-term lease after the acquisition. The property offers an NOI yield of approximately 6.2%, securing a high level of profitability even among logistics-focused J-REITs.

The asset is a box-type warehouse located approximately 6.7 km from the Oi-Matsuda IC on the Tomei Expressway. Completed in March 1999, the property is a five-story above-ground SRC structure with four warehouse floors, totaling approximately 3,899 tsubo (approx. 128,893 sq. ft.) of Gross Floor Area. It is partially equipped with air conditioning and refrigerated/freezer facilities, enabling it to handle cargo across a range of temperature requirements. Minamiashigara is the site where the Fujifilm Group first established its own factory, and it remains a key hub for the group, with major production plants and research facilities concentrated there.

This acquisition is a sale-and-leaseback transaction sourced through the sponsor group’s origination capabilities. The lease includes a CPI-linked clause, creating the potential for internal growth through rent increases every three years in an inflationary environment. Continued logistics demand is expected against the backdrop of the company’s stable production activity.

Key Facts

• Property Name:

  Marq Minamiashigara

• Buyer:

  GLP J-REIT

• Seller:

  Fujifilm Logistics Co., Ltd.

• Acquisition Price:

  JPY 2,000 million

• Appraised Value:

  JPY 2,340 million

• NOI Yield:

  Approx. 6.2%

• Location:

  369 Tsukahara, Minamiashigara, Kanagawa Prefecture

• Nearest IC:

  Approx. 6.7 km from Oi-Matsuda IC on the Tomei Expressway

• Completion:

  March 1999

• Number of Floors:

  5F / B0

• Gross Floor Area:

  Approx. 3,899 tsubo (approx. 128,893 sq. ft.)

• Occupancy:

  100.0%

• Tenant:

  Fujifilm Logistics Co., Ltd.

• Lease Term:

  12 years (with CPI-linked clause)