Regarding Business Expansion of Mitsui Fudosan Logistics Park
Decision to Develop 4 New Facilities Expands Operations to 13 Facilities and Approximately 1,000,000 m2 in Floor Space
A Logistics Properties Business Division to be Established in Fiscal 2015 for the Business Expansion
March 3, 2015
Mitsui Fudosan Co., Ltd.
Mitsui Fudosan Co., Ltd. announced today that it has decided to develop the following 4 new logistics facilities. The company has been developing cutting-edge logistics facilities in response to growing demand from third-party logistics (3PL) companies and e-commerce companies.
- Mitsui Fudosan Logistics Park Kashiwa: Kashiwa City, Chiba Prefecture; planned completion in November 2015
- Mitsui Fudosan Logistics Park Hiratsuka: Hiratsuka City, Kanagawa Prefecture; planned completion in November 2016
- Mitsui Fudosan Logistics Park Komaki: Komaki City, Aichi Prefecture; planned completion in January 2017 (first such facility in the Chukyo region)
- Mitsui Fudosan Logistics Park Hiratsuka II: Hiratsuka City, Kanagawa Prefecture; planned completion in September 2018
The 4 facilities announced above will increase the number of logistics facilities Mitsui Fudosan is either operating or developing to 13, including 6 now in operation and 3 now in development. Total floor space will increase to approximately 1,000,000 m2 as a result. Tenants of Mitsui Fudosan Logistics Park include Hitachi Transport System, Ltd., KOKUBU & CO., LTD., Rakuten, Inc., and e-LogiT co., ltd., among other major 3PL, wholesale, and e-commerce companies. Also included are various leading apparel companies from around the world with which Mitsui Fudosan has developed relationships through its retail properties and other businesses.
Mitsui Fudosan is actively developing its logistics business as part of a core initiative to strengthen the competitiveness of domestic businesses under the Group’s Innovation 2017 Long-Term Business Plan, which culminates in fiscal 2017. The plan was announced in 2012 and has a budget of approximately ¥200.0 billion for investment in the logistics business by fiscal 2017. Mitsui Fudosan has made steady progress, investing roughly ¥160.0 billion so far in the 13 logistics facilities.
Moreover, to foster further growth in the logistics business, Mitsui Fudosan will launch a new Logistics Properties Business Division on April 1, 2015. At the same time, a Logistics Properties REIT Preparation Department will be established within the new division to step up preparations for the establishment of a real estate investment trust (REIT) for securitizing the logistics facilities.
|Perspective drawing of Mitsui Fudosan Logistics Park Kashiwa
|Perspective drawing of Mitsui Fudosan Logistics Park Hiratsuka
Mitsui Fudosan Logistics Park