GALAXY BUILDING

  • A multi-tenant, fully-leased retail building, and one of the few en-bloc buildings in the Ximending submarket.
  • Located in the Ximending Pedestrian Area, Taipei’s most popular retail area for young and trendy locals and tourists, frequented by 3 million shoppers monthly. 
  • Existing leases were below market rent, presenting a repositioning opportunity. 

Strengths / Highlights

  • Repositioning strategy: APL recognized that the availability of contiguous space in a strong consumer submarket with few en-bloc buildings represented an opportunity to secure a flagship store, and brought in Uniqlo as a new anchor tenant.
  • Record land value in Taiwan achieved on exit. 

Acquisition/Disposition Date

July 2010 / August 2012

Location

Taipei, Taiwan

Property Type

Retail

Property Size

14,642 sqm