Retail

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.

Coaska Bayside Stores

Asset Class: Retail
Location: Yokosuka City, Kanagawa
Completion: 1991
Floor Area: 120,624 m²
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: Kumagaya City, Saitama Completion: 1979
Floor Area: 43,110 m²
Floors: 5 stories
Acquisition: 2024
Renovation: 2025 onwards

In 2024, an SPC formed by APLJ acquired “Nittoh Mall”, a large-scale retail facility in Saitama Prefecture, known for its seamless connection to JR Kumagaya Station via a pedestrian deck. By also securing the underlying land from multiple sellers, the SPC achieved full ownership of the asset. The acquisition represents the first investment under the “Agreement on Large-Scale Commercial Facility Investments“, framework established between APLJ and the RE-SEED Association in September 2023 to facilitate joint investments focused on environmental upgrades and value enhancement of large-scale commercial facilities. Renovation works for Nittoh Mall are set to begin in 2025 in collaboration with the RE-SEED Association.