In 2010, APL acquired a multi-tenant retail building located in the Ximending Pedestrian Area, Taipei’s popular and trendy retail district frequented by three million shoppers monthly. APL recognized that the rents of existing leases were below market and that the asset was one of the few en-bloc buildings in the submarket.
The strong consumer submarket and few en-bloc buildings presented an opportunity to reposition the asset with a flagship store. APL successfully brought in Uniqlo, the popular Japanese clothing brand, as the new anchor tenant. In total, APL re-tenanted 11 out of 13 floors and achieved significant rental growth.
Location Taipei, Taiwan
Property Type Retail
Property Size 14,642 square meters
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