Wednesday, May 18, 2016

to Open New Retail Store in Tokyo's Omotesando District in March 2014

An retail store is set to open within Tokyo’s famed Omotesandō district in March 2014, reportsBloomberg. The store will be 's first new one to open in the city in nine yrs and the first anywhere in Japan since the Sapporo store opened in June 2006. The new store will reportedly span three floors, with the first floor above ground and two additional underground floors, for a total ar of 1868 square meters (over 20,000 square feet). Job listings for the store have also begun appring on ’sJapanese retail web site.

Retail Store in Tokyo's Ginza districtThe land costs about 16 billion yen ($164 million) and a completed store with as tenant would value the property at around 25 billion yen, said Seth Sulkin, a representative director at Tokyo-based rl estate and asset manager Pacifica Capital KK. Sulkin was ’s rl estate adviser for all seven of the company’s previous stores in Japan.
“ wants the best rl estate they can get,” said Sulkin. “They are particular about size and shape. If they have to wait to get the rl estate, they would.”The store plans come as attempts to make a bigger push in the Japanese market, with Japan’s biggest carrier, NTT DoCoMo,statingthat it has “compelling rsons” to rch a long-elusive iPhone dl with in Japan. The iPhone 5S and lower-cost iPhone 5C are expected tolaunchin Japan in September 20 along with the first wave of launches in select countries, and both next-eration i will reportedly beunveiledon September 10.

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