Japan’s Aeon REIT buys two malls for $170m

Japan-based AEON REIT has acquired two malls in Japan for $170 million

The seller was Godo Kaisha Double O7, according to the press release.

The assets are located in Wakayama City and Miyakonojo City.

AEON MALL Wakayama is five stories tall and is considered the largest shopping mall in the city. B1 floor of this property is connected to the third floor of Wakayamadaigakumae station via a pedestrian deck. It provides 3,500 parking spots. In addition, on the second floor there is a 10-screen cinema complex.

AEON MALL Miyakonojo Ekimae totals 29,000 square meters (312,153 square feet) in floor space with more than 100 tenants, the largest in Miyakonojo City and the only circuit-style shopping mall in the region. In addition, there is a 1,700-vehicle capacity with parking spaces in front of the property, and on the third floor and rooftop.