AEON REIT Investment CorporationSecurities Code:3292


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AEON MALL Kurashiki

  • AEON MALL Kurashiki1
  • AEON MALL Kurashiki2
  • AEON MALL Kurashiki3
  • AEON MALL Kurashiki4
  • AEON MALL Kurashiki5
Property number RSC-11
Property name AEON MALL Kurashiki
Location Kurashiki City, Okayama Pref.
Type Regional shopping center (RSC)

Property Features

One of the Largest Retail Properties in Kurashiki City with Approximately 80,000 m² of Leased Area

●The property was opened in September 1999 as a large shopping center on the site of a former Kuraray chemical factory. In September 2007, its name was changed to AEON MALL Kurashiki. It is a mall-type regional shopping center, consisting mainly of a general merchandise store directly operated by Aeon Group.
●Anchored by the general merchandise store directly operated by Aeon Group, the shopping center's other major sub-anchor end tenants include Kid's Republic (directly operated), Toys "R" Us, and SPORTS AUTHORITY. It employs a two-anchor-with-one-mall format, and a core attraction to draw customers to the property is the Shochiku 10-screen multiplex movie theater.
●AEON MALL Kurashiki has approximately 80,000 m² of leased floor space (including non-sale space), and it is among the largest retail properties in Kurashiki City. The retail area is limited to two floors, making each floor height-scale rather large with open shopping spaces, which are one of the attractive features of the property. In October 2011, roughly 80% of the property was renovated. An expansion was made to the central parking lot, the total floor area was expanded by 30,000 m², and the leased area was increased by 10,000 m². Sixty stores newly opened in the expanded floor area. In the pre-existing space, new tenants were introduced, while existing tenants relocated and/or carried out renovations.
●AEON MALL Kurashiki is thriving and ranks high in sales among the shopping centers operated by AEON Mall Co., Ltd. As the only regional shopping center in the area, AEON MALL Kurashiki has captured a large share of the market in the surrounding commercial area.

Trade-Area Characteristics

●According to 2010 national census data, when looking at trade-area population by distance from the property, approximately 87,000 people live within a 3 km radius, roughly 173,000 people live within a 5 km radius, and approximately 459,000 people live within a 10 km radius of the property, which meets the population level of 400,000 people which is generally considered to be necessary for primary trade area of a regional shopping center. The trade area's population is increasing, and there are more young people and fewer elderly people than the average in Okayama Prefecture, making it a market where a solid level of consumption and spending can be expected.
●This is the only full-fledged mall-type regional shopping center in the Kurashiki region, and it has solidified its position as the top retail property in the region.



Key Property Data

Property name AEON MALL Kurashiki
Address 1, Mizue, Kurashiki-shi, Okayama
Type of specified asset Trust beneficiary interests
Acquisition date November 22,2013
Acquisition price ¥17,890 million
Land Lot area 125,404.13㎡
Building Completion date September 15, 1999September 8, 2011 (of change and expansion)
Structure / Floors Buildings 1, 2, 3: Steel-framed / 4 stories above ground
Building 4: Steel-framed / 1 story above ground
Total floor area (Note 1) 157,274.78 m²
Property management company GEO AKAMATSU CO., LTD.
Master lease company AEON Mall Co., Ltd.
(Note 1) Because the property's buildings are subject to stratified ownership (kubun shoyū) interests, the structure and number of floors shown above are the same as is noted in the registration of the building for the exclusively-owned portion, but because we hold the entire building, the total floor area is as noted in the registration of the building for the entire building.
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Awards, etc.

●Senken Shimbun Co., Ltd. / 8th Annual (FY2005) Developers Chosen by Tenants Grand Prize "Proposal Award"
●Senken Shimbun Co., Ltd. / 9th Annual (FY2006) Developers Chosen by Tenants Grand Prize "Proposal Award"
●Senken Shimbun Co., Ltd. / 15th Annual (FY2012) Developers Chosen by Tenants Grand Prize "Innovation Award"
●Acquisition of DBJ Green Building Certification「2018★★★★★」