Mapletree acquired industrial property in Japan

Mapletree Investments has acquired an industrial property IXINAL Monzen-Nakacho Building in Tokyo from Itochu Corp, Japan.

The property is a five-storey light industrial building that is home to a corporate headquarters, information systems development and operations cum data centre.

Mapletree did not disclose the amount it paid for the building.

Completed in September 2009, this freehold property is currently leased to a company listed on the Tokyo Stock Exchange that provides outsourcing services as well as the development of information service and operating private trading systems.

It has a net floor area of 6,852 square metres and sits on a land measuring 2,788 square metres in size.

Mapletree Industrial chief executive officer Mr Phua Kok Kim, said: “The property is located in Monzennaka-cho, Koto-ku, Tokyo. Due to its lower land cost and proximity to Tokyo’s Central Business District, which is a 10-minute drive away as well as its accessibility from Haneda and Narita international airports, Koto-ku has become a popular location as headquarters for leading Japanese blue-chip companies.”

Source : Channel NewsAsia – 29 Mar 2010

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