This English translation of the original Japanese document is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
Ichigo Office Portfolio Occupancy (Flash Data) - May 2024
April 2024
May 2024
Difference
(Final: A)
(Flash: B)
(B) - (A)
Total
96.6%
96.1%
-0.5%
By Asset
Office
96.5%
96.0%
-0.5%
Type
Other
100%
100%
-
Central Tokyo
94.9%
95.0%
+0.1%
Tokyo
Metropolitan
98.0%
97.1%
-0.9%
By Area
Area
Four Major
97.0%
95.4%
-1.6%
Regional Cities
Other Regional
99.3%
99.3%
-
Cities
No. of Assets
87
93
+6
No. of Tenants
1,006
1,067
+61
Leasable Area
266,944.42m2
279,500m2
Leased Area
257,879.22m2
268,600m2
Notes:
The above are unaudited month-end figures.
Leasable Area is the total area of space available for leasing, and may have small adjustments due to renovations or variations in rental contract terms.
Central Tokyo refers to Chiyoda, Minato, Chuo, Shinjuku, Shibuya, and Shinagawa Wards. Tokyo Metropolitan Area refers to Tokyo (excluding the six wards above), Kanagawa, Chiba, and Saitama Prefectures. Four Major Regional Cities refers to Osaka, Nagoya, Fukuoka, and Sapporo.
1
Explanation of Changes
Although occupancy decreased for Tokyo Metropolitan Area due to departing tenants at the Ichigo Kinshicho South Building and Ichigo Eitai Building, occupancy increased for Central Tokyo due to new tenants at the Ichigo Takadanobaba Building and Ichigo Nishi Gotanda Building. Ichigo Office is working towards the rapid lease-ups of the vacant spaces.
Number of assets, number of tenants, and leasable area increased due to the acquisition of the Ichigo Akihabara East Building, Ichigo Hakata Meiji Dori Building, Ichigo Hakata Gion Building, Ichigo Tenjin North Building, Ichigo Gotanda West Building, and Ichigo Otemachi North Building on May 30, 2024.
For details on the asset acquisition, please refer to the May 20, 2024 release "Acquisition of Six Office Assets."
As part of its efforts to increase tenant satisfaction and drive earnings via value-add capex, Ichigo Office recently completed renovating the common areas and restrooms of the Ichigo Hongo Building, and successfully leased up a large section over 150 tsubo (495m2) to a new tenant without downtime.
Ichigo Office will continue to increase tenant satisfaction and the competitiveness of its assets to drive higher value for its shareholders.
Ichigo Hongo Building
2
Attachments
Original Link
Original Document
Permalink
Disclaimer
Ichigo Office REIT Investment Corporation published this content on
06 June 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
06 June 2024 06:09:04 UTC.
Ichigo Office REIT Investment Corp is a real estate investment trust (REIT). It aims to achieve sustainable growth in asset and stable earnings from mid- to long-term perspectives. The Company mainly invests in office buildings in central Tokyo, other metropolitan areas and other major cities nationwide. Its property portfolio includes Ichigo Nishisando Building, Ichigo Mita Building, Ichigo Uchikanda Building, Ichigo Shin-Yokohama Building, Ichigo Nishi Ikebukuro Building, Ichigo Sakae Building, Ichigo Marunouchi Building, and among others. The asset manager of the Fund is Ichigo Investment Advisors Co Ltd.
ICHIGO OFFICE REIT INVESTMENT CORPORATION 
