Mapletree Investments Pte Ltd announced yesterday that it has acquired an industrial property from ITOCHU Corp and ITOCHU Property Development, Ltd in Tokyo, Japan. The IXINAL Monzen-Nakacho Building is a 5-storey purpose-built light industrial building housing a corporate headquarters, information systems development and operations cum data centre.

The property is leased to a Tokyo Stock Exchange-listed company which is involved in providing outsourcing services and the development and maintenance of information service systems and operating private trading systems.

Phua Kok Kim, CEO of Mapletree Industrial said, “We are pleased to acquire this high quality property which will add to Mapletree's portfolio of assets in Japan.  The acquisition of this property from our strategic partner, ITOCHU Corp also reinforces our strong relationship which extends beyond our collaboration in the logistics market in Japan and other parts of Asia.”

"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," he added. 

Completed in September 2009, IXINAL Monzen-Nakacho Building is a freehold property with a net floor area of 6,852 sqm and sited on a land area of 2,788 sqm.