Japan Logistics Fund To Sell Two Logistics Facilities in Urayasu and Kawasaki
Japan Logistics Fund will sell two logistics facilities: Urayasu Chidori Logistics Center III in Chidori, Urayasu City, Chiba Prefecture, and Kawasaki Logistics Center in Sakuramoto, Kawasaki Ward, Kawasaki City, Kanagawa Prefecture. The total scheduled sale price is JPY 14.8 billion.
Urayasu Chidori Logistics Center III was completed in 1998 and is a four-story property with a Gross Floor Area of approximately 1,608 tsubo (approx. 57,200 sq. ft.). It is located about 2.8 kilometers from the Maihama interchange on the Shuto Expressway Bayshore Route. In addition to this property, the investment corporation also owns Urayasu Logistics Center and Urayasu Chidori Logistics Center in Urayasu City, and has operated multiple properties in the bayfront logistics cluster. The property was selected for sale because the asset manager determined that asset value had been maximized after securing a lease at a rent level it considers to be at the upper end of the market range.
Kawasaki Logistics Center was completed in 1989 and is a five-story property with a Gross Floor Area of approximately 12,593 tsubo (approx. 448,100 sq. ft.). It is located about 3.0 kilometers from the Asada interchange on the Shuto Expressway Kanagawa Route 1 Yokohane Line. While the property has maintained stable occupancy over a long period, the investment corporation determined that upside potential for rent growth is limited because the lease is based on a standard building lease agreement, and selected the property for sale. The sale will be completed in four installments between December 2026 and February 2028.
Since March 2024, the investment corporation has been rotating its portfolio by selling five properties and acquiring eight properties, and this transaction follows those initiatives. （see related article:Japan Logistics Fund, Inc. to Acquire Two Logistics Properties in Tosu and Yokohama , Japan Logistics Fund Acquires Additional Stake in Ishikari Logistics Center, Disposes of Kadoma Logistics Center）
Key Facts
- Seller: Japan Logistics Fund
- Contract Date: May 27, 2026
- Urayasu Chidori Logistics Center III
- Buyer: Keihanshin Building Co., Ltd.
- Scheduled Sale Date: June 11, 2026
- Scheduled Sale Price: JPY 2.4 billion
- Appraised Value: JPY 1.79 billion, as of Jan. 31, 2026, by Daiwa Real Estate Appraisal
- Location: 15-19 Chidori, Urayasu City, Chiba Prefecture
- Nearest Interchange: About 2.8 kilometers from the Maihama interchange on the Shuto Expressway Bayshore Route
- Completion: December 1998
- Number of Floors: 4F, reinforced concrete construction
- Area: Site area of approximately 1,310 tsubo (approx. 46,600 sq. ft.) / Gross Floor Area of approximately 1,608 tsubo (approx. 57,200 sq. ft.)
- Number of Tenants: 1
- Tenant: Sashida Warehouse Co., Ltd.
- Occupancy: 100.0%, as of the end of January 2026
- Property Manager: XYMAX Corp.
- Kawasaki Logistics Center
- Buyer: Not disclosed
- Scheduled Sale Date: First installment: Dec. 22, 2026 / Second installment: June 29, 2027 / Third installment: Aug. 4, 2027 / Fourth installment: Feb. 3, 2028
- Scheduled Sale Price: JPY 12.4 billion
- Appraised Value: JPY 12.4 billion, as of Jan. 31, 2026, by Tanizawa Sogo Appraisal
- Location: 2-32-1 Sakuramoto, Kawasaki Ward, Kawasaki City, Kanagawa Prefecture
- Nearest Interchange: About 3.0 kilometers from the Asada interchange on the Shuto Expressway Kanagawa Route 1 Yokohane Line
- Completion: July 1989
- Number of Floors: 5F, steel-reinforced concrete construction
- Area: Site area of approximately 6,541 tsubo (approx. 232,700 sq. ft.) / Gross Floor Area of approximately 12,593 tsubo (approx. 448,100 sq. ft.)
- Number of Tenants: 1
- Tenant: Sagawa Global Logistics Co., Ltd.
- Occupancy: 100.0%, as of the end of January 2026
- Property Manager: XYMAX Corp.