Mitsubishi Estate Logistics REIT to Sell Two Logistics Facilities in Kazo, Saitama

Mitsubishi Estate Logistics REIT Investment Corporation will transfer two logistics facilities in Kazo, Saitama Prefecture, on March 31, 2026. The assets are “MJ LogiPark Kazo 1” and “MJ LogiPark Kazo 2,” with a combined transfer price of JPY 3,520 million.

Both properties are located close to the Kazo interchange on the Tohoku Expressway. “MJ LogiPark Kazo 1” is in Hanasaki 5-chome and is a two-story steel-frame facility completed in March 2006, with a gross floor area of approximately 2,299 tsubo (approx. 81,806 sq. ft.). Its tenant is Kanda Holdings, a Tokyo Stock Exchange Standard Market-listed company and a comprehensive logistics operator specializing in publication transport and pharmaceutical logistics.

“MJ LogiPark Kazo 2” is in Okuwa 1-chome, was completed in December 1998, and has a gross floor area of approximately 2,223 tsubo (approx. 79,101 sq. ft.). Its tenant, MS Japan, is a logistics company known as a recommended vendor for major apparel company Shimamura and has its headquarters functions at the property. Both facilities are 100% occupied.

The REIT decided to sell the assets because the properties are now 20 to 30 years old and are expected to require higher repair costs going forward. In addition, under its portfolio strategy, the facilities are relatively small at roughly 2,200 to 2,300 tsubo of gross floor area, limiting their contribution to internal growth.

Key Facts

• Seller:

  Mitsubishi Estate Logistics REIT Investment Corporation

• Buyer:

  Undisclosed (domestic special purpose company)

• Scheduled Transfer Date:

  March 31, 2026

• Property Name: MJ LogiPark Kazo 1

  • Transfer Price:

    JPY 1,680 million

  • Appraised Value:

    JPY 1,620 million (as of August 31, 2025)

  • Capitalization Rate:

    4.3%

  • Location:

    21 Hanasaki 5-chome, Kazo, Saitama Prefecture

  • Completion:

    March 2006

  • Number of Floors:

    2F

  • Gross Floor Area:

    approximately 2,299 tsubo (approx. 81,806 sq. ft.)

  • Site Area:

    approximately 2,305 tsubo (approx. 82,019 sq. ft.)

  • Occupancy Rate:

    100%

• Property Name: MJ LogiPark Kazo 2

  • Transfer Price:

    JPY 1,840 million

  • Appraised Value:

    JPY 1,800 million (as of August 31, 2025)

  • Capitalization Rate:

    4.1%

  • Location:

    4-1 Okuwa 1-chome, Kazo, Saitama Prefecture

  • Completion:

    December 1998

  • Number of Floors:

    2F

  • Gross Floor Area:

    approximately 2,223 tsubo (approx. 79,101 sq. ft.)

  • Site Area:

    approximately 3,464 tsubo (approx. 123,260 sq. ft.)

  • Occupancy Rate:

    100%