DEFINITIONS

Subject Buildings

As a general rule, buildings of more than 1,000 tsubo meeting the 1982 earthquake resistance standards

Grade A

Subject Buildings: In principle, buildings located in regions (*) with a high concentration of office buildings that fulfill all of the following conditions:

  • Typical floor plate of 350 tsubo or more, (500 tsubo or more in Tokyo)
  • Net Leasable Area of 6,500 tsubo or more,
  • Gross Floor Area of 10,000 tsubo or more, -Age of less than 11 years (*) Regions with high concetration of office buildings:
  • Tokyo: Centered in the Central 5 Wards,
  • Osaka: Centered in Kita, Chuo, and Yodogawa Wards,
  • Nagoya: Centered in Nakamura, Naka, Higashi and Nishi Wards

Grade A-Minus

In principle, buildings in selected markets that fulfill all of the following conditions:

  • Tokyo: Typical floor plate of 250 tsubo or more, net leasable area of 4,500 tsubo or more, gross floor area of 7,000 tsubo or more, and compliant with the new earthquake resistance standards

Grade B

In principle, buildings in selected markets that fulfill all of the following conditions:

  • Tokyo: Typical floor plate of 200 tsubo or more, gross floor area from 2,000 tsubo to 7,000 tsubo, and compliant with the new earthquake resistance standards
  • Osaka, Nagoya: Gross floor area from 2,000 tsubo or more and compliant with the new earthquake resistance standards

Assumed Achievable Rent

Assumed achievable rent based on a sample survey of subject buildings (including common area maintenance fee but not taking into account such incentives as free rent)

Vacancy Rate

Vacancies are those that are ready to receive tenants at time of survey

Availability Rate

The availability rate is a variation on the vacancy rate calculated by including not only units ready for immediate occupancy, but also units expected to be ready for immediate occupancy within the next year, and available units in buildings under construction that are planned for completion within the next year. Availability rates are preliminary figures for all periods. Other areas and each grades are not available.

Floor Space of New Supply

Leasing floor space of buildings completed during each period

Floor Space of Net Absorption

Difference between occupied floor space (floor space used by tenants) in each period and that of the previous period