Sustainable Green Retail
APLJ’s core business focuses on investing in and transforming large-scale commercial facilities, which serve as vital infrastructure for local communities, into sustainable assets that will endure for future generations.
Retail
Coaska Bayside Stores
Asset Class: Retail
Location: Yokosuka City, Kanagawa
Completion: 1991
Floors: 7 stories
Acquisition: 2003 / 2018
Renovation: 2020
In 2003, an SPC formed by APLJ acquired a majority portion in the flagship Daiei store, Shoppers Plaza Yokosuka, in Kanagawa Prefecture. APLJ negotiated a long-term master lease with Daiei, then operating under the Industrial Revitalization Law, and the asset was maintained as a stabilized investment. The remaining minority portion in the center was acquired from the Aeon Group in 2018, which led to the SPC gaining full control of the operations. In 2019, the facility was closed to begin extensive interior and exterior renovations. In June 2020, a grand opening took place as the facility reopened as Coaska Bayside Stores, a multi-tenant, mixed-use retail facility tailored to the needs of the local community.
NITTOH MALL
Asset Class: Retail
Location: Akishima City, Tokyo
Completion: 1984, 2004, and others
Floor Area: 112,785 m²
Floors: B1-3 stories, 5 stories, and others
Acquisition: 2025
Renovation: from 2026 (planned)
In 2025, an SPC established by APLJ acquired MORITOWN, a multi-tenant commercial complex located in front of JR Akishima Station, combining the advantages of a station-front retail facility with the distinctive character of an open-mall configuration. This acquisition represents the second investment under the “Agreement on Large-Scale Commercial Facility Investments” signed between APLJ and the RE-SEED Organization in September 2023. From 2026 onward, APLJ plans to implement value-enhancement initiatives, including energy-saving renovations, in collaboration with the RE-SEED Organization.
