KDX REIT Sells Retail Complex in Izumi, Osaka for JPY 6.0 Billion
In June 2025, KDX Realty Investment Corporation announced the sale of its retail property “COMBOX Komyoike” located in Izumi City, Osaka Prefecture, for JPY 6.0 billion. The purchase and sale agreement was executed on June 17, with closing scheduled for June 30.
The asset is a large-scale shopping center situated approximately a 4-minute walk from Komyoike Station on the Semboku Rapid Railway Line. Completed in March 2004, the facility comprises one basement level and four above-ground floors, with a gross floor area of approximately 13,530 tsubo (approx. 44,700 sq. ft.). Serving as a key retail hub for the surrounding residential neighborhoods, the property fulfills local convenience needs.
Originally held as a sectional ownership interest, the REIT acquired the remaining strata in July 2024, consolidating full ownership. Since 2021, the asset has maintained 100% occupancy under a rent-guaranteed master lease. However, given the property’s age—now over 20 years—and rising capital expenditure requirements amid intensifying competition in the area, the asset manager decided to dispose of the property to improve portfolio quality.
Proceeds from the sale will be retained as internal funds and allocated to future acquisitions or capital improvements of existing assets. The REIT expects to record an estimated capital gain of approximately JPY 220 million from the transaction, which will bolster retained earnings and support future dividend distributions.
Key Facts
Property Name: COMBOX Komyoike
Seller: KDX Realty Investment Corporation
Transaction Price: JPY 6.0 billion
Location: 824-36 Murodo-cho, Izumi City, Osaka Prefecture
Nearest Station: Approx. 4-minute walk from Komyoike Station (Semboku Rapid Railway)
Completion: March 2004
Number of Floors: 4F / B1
Gross Floor Area: approx. 13,530 tsubo (approx. 44,700 sq. ft.)