IAL will take advantage of the preferential negotiation rights it enjoys under separate sponsor support agreements with ITOCHU Corporation and ITOCHU Property Development, Ltd., to access the ITOCHU Group’s customer network and its expertise in land purchase, development, and leasing in the field of logistics real estate. In this way, we aim to secure opportunities for property acquisition and further diversify and solidify our portfolio.
Timeline of ITOCHU Group Logistics Real Estate Development and Acquisition
Stable Sourcing System
External Growth with Sponsor Support
To achieve its external growth targets, IAL will benefit from support in the areas indicated below based on its sponsor support agreements with the ITOCHU Group, which has strengths in land purchase and facility development.
Pipeline Support from ITOCHU Corporation and ITOCHU Property Development
As it works to expand its asset scale, IAL has the benefit of pipeline support (preferential negotiation rights) from ITOCHU Corporation and ITOCHU Property Development and extensive external growth support through the ITOCHU Group network.
|Completion date (planned)||Property under ownership/ development||Location||Total floor area
|Preferential negotiation rights|
|May 2018||i Missions Park Tokyo-Adachi||Adachi Ward, Tokyo||27,872||Preferential negotiation rights|
|August 2018||i Missions Park Kashiwa 2
(30% quasi-co-ownership interest)
|Kashiwa City, Chiba Prefecture||35,230
|Preferential negotiation rights|
|March 2019||i Missions Park Inzai 2||Inzai City, Chiba Prefecture||26,938||Preferential negotiation rights|
|August 2019||i Missions Park Ichikawa-Shiohama||Ichikawa City, Chiba Prefecture||57,724||Preferential negotiation rights|
|September 2019||i Missions Park Miyoshi||Miyoshi Town, Iruma County, Saitama Prefecture||10,300||Preferential negotiation rights|
- The total floor areas are rounded down to the nearest unit. For i Missions Park Kashiwa 2, the total floor area corresponds to the quasi-co-ownership interest not held by IAL (i.e., 30%) .
- As of April 1, 2020, IAL has undertaken no specific negotiations with the ITOCHU Group regarding the above assets and has no current plans to acquire them or no guarantee of being able to acquire them in the future.
(1) Strengths in land purchase and development of ITOCHU Property Development
ITOCHU Property Development engages in land purchase and development in the field of logistics real estate, drawing on its sourcing routes as a comprehensive developer and the strengths acquired in its extensive track record of development in a wide range of property types.
(2) Access to available development sites through customer networks
ITOCHU Corporation has built a good relationship with Nippon Steel & Sumikin Engineering Co., Ltd. (NSENGI) by placing with it orders for the construction of logistics facilities. On the strength of this relationship, ITOCHU Corporation has been able to acquire unused land assets belonging to NSENGI and its parent company, Nippon Steel & Sumitomo Metal Corporation (NSSMC), for development as logistics facilities.
(3) Response to Group company development needs
Having successfully developed two dedicated logistics centers for its Group company Nippon Access, Inc., the ITOCHU Group has worked together with Nippon Access, which is the centers' tenant, and Fujita Corporation, which is the joint developer and also responsible for design and construction, to plan and manage the official certification process and related procedures in compliance with the Act on Advancement of Integration and Streamlining of Distribution Business.