Japan Retail Fund Investment Corp. has acquired and sold properties.
JRF purchased the two-building property m-city Kashiwa for 5.52 billion yen ($49.49 million). The seller was not disclosed.
Tenants include LOPIA, a supermarket; Nitori, a furniture and interior goods retailer; Seria, a 100-yen store; and KOJIMA × Bic Camera, an electronics mass seller. Roof and surface parking can accommodate more than 600 cars, which is sufficient capacity.
Building A totals 108,616 square feet, spanning up four stories above ground and Building B totals 111,369 square feet, spanning up three stories above ground.
The acquisition of the property is intended to enhance the stability of JRF’s portfolio by replacing the AEON Tobata Shopping Center, which is expected to undergo an intensification of competition among facilities and a substantial decline in trade area population.
AEON Tobata Shopping Center sold for 6.07 billion yen ($54.3 million) to Asset Financ
