ITOCHU Announces the Completion of the I MISSIONS PARK Moriya Multi-Tenanted Logistics Center
March 31, 2017
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that work on I MISSIONS PARK Moriya (Location: Tsukuba Mirai City, Ibaraki Prefecture) was completed on March 31, 2017. ITOCHU is now actively seeking tenants to lease the property. The property is a multi-tenanted logistics center developed by ITOCHU as part of its initiatives announced on September 9, 2014 to accelerate the development and increase asset value in the logistics real estate areas in Japan. Encouraged by the many inquiries it has received from customers, ITOCHU is aiming to operate the property at full capacity as soon as possible.
I MISSIONS PARK Moriya offers excellent access to the Yawara Interchange (approx. 1.1km from the center) on the Joban Expressway. Using the Ibaraki Prefecture section of the Ken-O Expressway (from the Sakaikoga Interchange to the Tsukuba-Chuo Interchange) that newly opened on February 26, 2017, deliveries can be made to a wide swath of the Kanto area, putting the center in a prime location to help customers achieve their diverse logistics strategies.
The building has three floors above ground. This reduces lost time spent conveying goods up and down, while enabling high task efficiency and swift operations.
ITOCHU has set out a policy of actively developing logistics centers like this to address the future needs of customers and changes in the supply chain. It has currently began development of new properties in Adachi Ward, Tokyo (Floor area: 28,000m2, Completion: Spring 2018) and Kashiwa City, Chiba Prefecture (Floor Area: 130,000m2, Completion: Summer 2018). The accumulation of logistics real estate towards the formation of a logistics real estate REIT is already expected to reach a total project amount of 150 billion yen. Moving forward, we intend to accelerate investment.
|Name||I MISSIONS PARK Moriya (4-4 Kinunodai, Tsukuba Mirai City, Ibaraki)|
|Site Area||20,332.76 m2|
|Floor Area||20,148.56 m2|
Artist’s impression of I MISSIONS PARK Moriya