Daiwa House Industry has plans to sell a logistics facility in Greater Tokyo to a TSE-listed REIT sponsored by the Japanese home builder for JPY 30 billion ($200 million), according to an investor disclosure.
The asset totals 60,845 square meters (651,055 square feet) and spans five stories, located in Urayasu City, Chiba. The property is located approximately 3 kilometers (2 miles) from Urayasu Interchange on the Metropolitan Expressway Wangan Route, a major arterial leading to Central Tokyo, and National Route 357 along the Wangan Routt, making the property accessible to the greater Tokyo area centered around central Tokyo and Chiba. It also has a potential as a nationwide distribution hub, using the Tokyo Gaikan Expressway from Koya Junction.
