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This page introduces DECKS Tokyo Beach.
This is an Urban Retail property in the Odaiba area, which has a strong ability to attract visitors. We acquired a 49% co-ownership interest in this property from Tokyu Land Corporation, one of our sponsor for ¥12,740 million with an appraisal NOI yield of 4.4%.
This property is attractive for three main reasons:
First, its location in the Odaiba area, which is a major entertainment hub with domestic and international visitors in Tokyo.
Second, its excellent location facing the waterfront with a scenic view of Rainbow Bridge and the heart of Tokyo.
And third, the rarity of the property as "hands-on experience based" retail facility with a wide variety of tenants that provide hands-on experiences such as Tokyo Joypolis, Legoland Discovery center Tokyo and Madame Tussauds Tokyo.
As some of the events and games for the 2020 Tokyo Olympics and Paralympics scheduled to be held in the Odaiba area, further infrastructure improvement and development projects are under way. Also, a new offshore passenger pier is under construction nearby the Museum of Maritime Science.
"Tokyo Cruise vision", a project developed by Tokyo Metropolitan Government coinciding with the construction of a new pier has set targets of 30 thousand of passengers by 2013 and 500 thousand by 2028, and further development is expected in this area.
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