Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
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J u l y 2 0 1 5 / S C T 5 C E N T E R S T A G E High hopes retailers are banking on tokyo skytree to draw tourists By Matt Hudgins T o k y o S k y T r e e i S m a n y things: at 2,080 feet high, it is the world's tallest tower, completed in 2011 as a base for television broadcasting. (The world's tallest building is in Dubai, United arab emirates, which rises 2,716 feet.) Skytree is also the newest must-see des- tination for domestic and international visi- tors to Tokyo. This steel-and-concrete spire features a paid-admission observation deck, a café, a souvenir shop and a restaurant, all perched some 350 meters (about 1,150 feet) above the city. For an additional fee, visitors can ascend to 450 meters, where a second o b s e r v a t i o n d e c k o f f e r s s p e c t a c u l a r 360-degree views. on holidays, visitors can look down on the local aerial fireworks dis- plays — something most fireworks gazers would never think to do. on the retail front, Skytree is the crown- ing attraction of a unique shopping center development that steers sightseers through an enclosed mall of 300 shops, stores and restaurants. The four-level retail project, called Solamachi (which translates as "sky city"), is part of the Tokyo Skytree Town mixed-use development. retailers range from local souvenir purveyors to national and global fashion brands — including Jill by JillStuart, maC Cosmetics and Zara. Gen- eral contractor obayashi built the project for a development coalition of Tobu rail- way Co. and a half-dozen broadcasters. The overall project also includes an adjacent of- fice building, the Sumida aquarium and the konika minolta Planetarium. Solamachi is 100 percent occupied, ac- cording to Shota mitsui, a spokesman for Tobu Tower Sky Tree Co., which manages the project. asked which part of the de- velopment is the chief draw for shoppers, mitsui says the Skytree, shops, aquarium and planetarium are all part of the equa- tion. Tokyo real estate experts observe that Solamachi is dependent on tourists for its customer base. "retailers that are drawn to Tokyo Solamachi are looking to capitalize on its heavy foot traffic, primarily made up of out-of-town Japanese visitors and foreign tourists," said Zina Zhang, senior manager of retail leasing at JLL Japan. The complex is a 20-minute walk across the Sumida river from asakusa, a neigh- borhood that is home to the historic Senso Temple and its centuries-old market street. Whether or not Skytree and Solamachi will resuscitate retail for the surrounding area, the project drew some 5.4 million visitors its first year alone and appears to be thriving. in that sense, it may offer use- ful lessons for other developers. "The Sky- tree project is a good learning opportunity as a tourist retail facility," said akihisa Sato, senior director of retail services for CBre Japan. "The landlord is trying a number of approaches to keep Skytree visitors within the retail floors. Generally speaking, Japa- nese developers place a lot of effort on es- tablishing tenant mix. Beyond this, they also tend to more actively bring new concepts to market and introduce [more] new product mixes than foreign developers." SCT +1 646 728 3800 Fax: +1 732 694 1730 www.icsc.org Editor in Chief eDmUnD manDer +1 646 728 3487 E D I T O R I A L Managing Editor Brannon BoSWeLL +1 646 728 3488 Copy Chief DaViD S. orTiZ Copy Editor VaLerie DaViD Art Director JoHn D. LeWiS Contributing Editors STeVe BerGSman DaViD Brinn niCky GoDDinG JoeL GrooVer maTT HUDGinS marGareT JaCkSon BeTH maTTSon-TeiG STeVe m c LinDen reBeCCa meiSer miST y miLioTo SPenCer rUmSey BenneTT VoyLeS A D V E R miCHaeL BeLLi +1 714 313 1942 mbelli@icsc.org amie LeiBoViTZ +1 773 360 1179 aleibovitz@icsc.org SUZanne TanGUay +1 646 728 3475 stanguay@icsc.org SaLLy STePHenSon +1 847 835 1617 sstephenson@icsc.org Production Manager DaViD STaCkHoUSe +1 646 728 3482 dstackhouse@icsc.org China: Una Gao + 86 10 5128 0868 exT. 1009 ugao@icsc.org europe: JULie FiTZSimminS, +44 (0)20 3772 8996 julief@lodestaruk.com asia: CaT CHan +852 2540 6872 cchan@icsc.org I C S C O F F I C E R S Chair man STePHen D. LeBoViTZ President and CEO miCHaeL P. kerCHeVaL Vice Chairman eLiZaBeTH i. HoLLanD Past Chairman roBerT F. WeLaneTZ, Crx, CSm Treasurer GLen HaLe Secretary GreGory J. PeTerSon Publisher rUDoLPH e. miLian, Crx, CmD, CSm For article reprints, call (866) 879-9144 or contact sales@fostereprints.com S H O P P I N G C E N T E R S T O D A Y SCT (ISSN 0885-9841) is pub lished monthly. VOLUME 36, ISSUE 7 © 2015, International Coun cil of Shop ping Cen ters, 1221 Avenue of the Americas, New York, NY 10020-1099; phone, +1 (646) 728 3800; fax, +1 732 694 1730. All rights reserved. Periodicals postage paid at New York, N.Y., and ad di tion al mailing offces. Sub scrip- tions $70 per year; Canada and other foreign $99. Single- copy price $10 (May issue $20). For subscription informa- tion call +1 727 784 2000. POST MAS TER: Send address changes to Shopping Cen ters Today, Sawida Worley, 1221 Avenue of the Americas, New York, NY 10020-1099. Publications mail agreement No. 41482022, return unde- liverable Canadian addresses to PO Box 503, RPO West Beaver Creek, Richmond Hill ON L4B 4R6.