CRE Logistics REIT (TYO:3487) has obtained exclusive negotiation rights for the Atsugi Iiyama Minami Factory site in Kanagawa Prefecture from SMFL Mirai Partners, according to a Thursday filing on the Tokyo Stock Exchange.

The rights allow the REIT to engage in sale discussions ahead of third parties until April 9, 2028.

The 23,028.31-square-meter site, held under a leasehold interest, is positioned near major expressways and is considered suitable as a distribution hub for Greater Tokyo and Nagoya.

The lease includes a clause to raise rent every five years based on Japan's consumer price index.

Acquisition terms and timing are undecided. The REIT will conduct due diligence before proceeding and is not obligated to buy the property. No fee was paid for the negotiation rights.

Price (JPY): $143700.00, Change: $+2200, Percent Change: +1.55%