TOKYO--(BUSINESS WIRE)--Nomura Real Estate Office Fund, Inc. (NOF)(URL: http://www.nre-of.co.jp/english/) (TOKYO:8959), a Japanese office building real estate investment trust (J-REIT) announced today that, Nomura Real Estate Development Co., Ltd., the lessee of NRE Tennozu Building (formerly the JAL Building) which is under management of NOF, has entered into the lease agreement with a new sub-lessee as stated below.
1. Summary of the Lease Agreement
| (1) Tenant (sub-lessee) name | : Canon Marketing Japan Inc. | |
| (2) Property name | : NRE Tennozu Building | |
| (3) Total leased floor space by the tenant | : 9,047.93 sq. meters | |
| (Note 1) | ||
| (4) Percentage of (3) in the Property's leasable | : 36.0% | |
| floor space (Note 2) | ||
| (5) Percentage of (3) in the total leasable floor | : 2.2% | |
| space of all properties held by NOF | ||
| (Note 3) | ||
| (6) Start of the lease period | : October 31, 2011 | |
| (7) Sub-lessee | : Nomura Real Estate Development Co., Ltd. (Note 4) |
(Note 1) The leased floor space of entire building multiplied by
percentage of NOF's share of the common area
(Note 2) Total
leasable floor space of NRE Tennozu Building (the "Property"): 25,127.13
sq. meters
(Note 3) Total leasable floor space of all properties
held by NOF: 403,729.11 sq. meters (as of June 30, 2011)
(Note 4)
Although the Property is owned in compartment, NOF executed the lease
agreement with Nomura Real Estate Development Co., Ltd. (the "Master
lessee") through the trustee. The Master lessee also leases the
exclusively owned area attribute to another owner of the Property.
Therefore, as the entire Property is leased by the Master lessee, it
will sub-lease to Canon Marketing Japan Inc. (the "Tenant") after
October 31, 2011.
2. Tenant (sub-lessee) Change of the Property
With the
partial evacuation of Japan Airlines International Co., Ltd. (currently
Japan Airlines Co., Ltd.), the tenant (sub-lessee) of the Property, on
March 31, 2011, the occupancy rate is 63.7% as of today. However, it is
expected to be 99.7% (office area: 100.0%) from October 31, 2011, start
of the lease period.
In addition, please refer to "Notice
Concerning Amendment to the Lease Agreement between a Major Tenant and
its Sub-lessee" released on June 30, 2010 and "Notice Concerning the
Conclusion of a Revised Agreement Regarding Consigned Property
Management and Name Change of the Property" released on September 30,
2010 for the information of the Property's contractual format.
3. Forecasts
Forecast of the financial results on the fiscal
period ending October 31, 2011 (from May 1, 2011 to October 31, 2011)
have not been changed due to the slight effect.
< About NOF > URL: http://www.nre-of.co.jp/english/
NOMURA OFFICE FUND, INC. (NOF) is listed on the Tokyo Stock Exchange(J-REIT) with the securities code number 8959, managed by Nomura Real Estate Asset Management Co., Ltd. (NREAM) within the Nomura Real Estate Group. The NOF Portfolio consists of office buildings located in the three major metropolitan areas and government-designated cities, etc.
Executive Director: Yuichi Maruko
*Asset Management Company (AM Company): Nomura Real Estate Asset Management Co., Ltd.
*President and Chief Executive Officer of the AM Company: Atsushi Ogata