Mitsubishi Estate Logistics REIT to Sell Logistics Facility in Inzai for JPY 5.22 Billion
Mitsubishi Estate Logistics REIT Investment Corporation announced on October 19, 2026, that it will sell the real estate trust beneficiary interest in MJ Logipark Inzai 1, a logistics facility in Matsuzakidai, Inzai City, Chiba Prefecture. The scheduled sale price is JPY 5.22 billion, and the interest will be transferred in three tranches between February and September 2027. The buyer is a domestic TMK whose name has not been disclosed.
The property is located approximately 15 km from the Chiba-Kita Interchange on the Higashi-Kanto Expressway. Completed in 2021, the three-story facility has a gross floor area of approximately 6,351 tsubo (approx. 226,000 sq. ft.). Seino Transportation is the sole tenant, and the occupancy rate is 100%.
The scheduled sale price is approximately 0.4% above the appraised value, and the appraisal NOI yield on the scheduled sale price is approximately 4.2%. The REIT acquired the property from Odakyu Real Estate in October 2022 for JPY 4.3531 billion. Although the building is relatively new at five to six years old, the REIT decided to sell it in light of factors including limited room for internal growth over the medium to long term.
In March 2026, the REIT sold MJ Logipark Kazo 1 and MJ Logipark Kazo 2, logistics facilities in Kazo City, Saitama Prefecture, for a total of JPY 3.52 billion. In the same month, it acquired an additional silent partnership equity interest in a bridge fund holding Logicross Nagoya Minato in Minato-ku, Nagoya, for JPY 1.208 billion, and in July it acquired MJ Logipark Daito 1 in Daito City, Osaka Prefecture, for JPY 3.1151 billion.
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Key Facts
- Property Name: MJ Logipark Inzai 1
- Seller: Mitsubishi Estate Logistics REIT Investment Corporation
- Buyer: Undisclosed (domestic TMK)
- Transferred Asset: Real estate trust beneficiary interest
- Scheduled Sale Price: JPY 5.22 billion
- Appraised Value: JPY 5.2 billion (as of August 31, 2026, by Tanizawa Sogo Appraisal Co., Ltd.)
- Appraisal NOI Yield (based on scheduled sale price): Approx. 4.2%
- Expected Gain on Sale: JPY 1.007 billion
- Contract Date: October 19, 2026
- Scheduled Sale Date: February 26, 2027 (40% quasi-co-ownership interest) / March 31, 2027 (40% quasi-co-ownership interest) / September 30, 2027 (20% quasi-co-ownership interest)
- Location: 2-2-2 Matsuzakidai, Inzai City, Chiba Prefecture
- Nearest Interchanges: Approximately 15 km from Chiba-Kita IC on the Higashi-Kanto Expressway / Approximately 26 km from Kashiwa IC on the Joban Expressway
- Completion: July 1, 2021
- Number of Floors: 3F (steel-frame construction)
- Use: Warehouse
- Area: Site area of approximately 3,753 tsubo (approx. 133,500 sq. ft.) / Gross Floor Area of approximately 6,351 tsubo (approx. 226,000 sq. ft.)
- Number of Tenants: 1 (Seino Transportation Co., Ltd.)
- Occupancy: 100.0%
- Property Management Company: CRE, Inc.
- Trustee: Sumitomo Mitsui Trust Bank, Limited