Fuyo General Lease and Sojitz Commerce Development Acquire Joint Trust Beneficiary Rights for Olinas Kinshicho (Olinas Mall/Olinas Core) in Sumida City, Tokyo
May 28, 2021
Fuyo General Lease Co., Ltd.
Sojitz Commerce Development Corporation
Fuyo General Lease Co., Ltd. (President: Yasunori Tsujita; “Fuyo Lease”) and Sojitz Commerce Development Corporation (Representative Director: Tetsuo Kondo; “SCDC”) have acquired joint trust beneficiary rights (Fuyo Lease: 80%, SCDC: 20%) for the Olinas Kinshicho shopping center in Sumida City, Tokyo.
Located near Kinshicho Station, Olinas Kinshicho (Olinas Mall/Olinas Core) opened as mall-type shopping center in April 2006. The mall’s name originates from the Japanese expression, olinas, which means to weave together. Olinas Kinshicho is built on this concept of bringing different elements together for the community, and the shopping center has become a popular destination in the neighborhood.
Olinas Kinshicho has approximately 100 tenants with anchor tenants that attract a steady stream of customers through their broad appeal, which include: Food Square Kasumi (supermarket), Super Sports Xebio (sporting goods), Yamada Denki (home appliances), Nitori (furniture/interior decor), Toho Cinemas (cinema complex), Taito F Station (entertainment), Toys “R” Us (toys), and Babies “R” Us (baby products). In addition, Olinas Kinshicho plans to partner with neighboring facilities such as Kinshi Park and Sumida City Gymnasium to create enticing spaces and experiences for visitors.
Fuyo Lease has regarded “real estate” as a strategic area within its medium-term management plan “Frontier Expansion 2021.” Olinas Kinshicho will be the second shopping center Fuyo Lease will jointly operate with Sojitz Group, following the Nasu Garden Outlet in Nasushiobara, Tochigi.
Through participation in this real estate project, Fuyo Lease seeks to offer greater convenience and enrich people’s lives.
SCDC works to raise the value of shopping centers, extending beyond the company’s original property management function to both own and provide management for shopping centers. This is SCDC’s third time acquiring trust beneficiary rights following Pieri Moriyama (Moriyama, Saga) in November 2018 and Nasu Garden Outlet (Nasushiobara, Tochigi) in May 2019.
Sojitz and SCDC will apply their past shopping center management experience to this project and take an active role in shopping center operations in order to maximize Olinas Kinshicho’s (Olinas Mall/Olinas Core) full potential, promote further development of the shopping center, and invigorate local communities.
Company Overview – Fuyo General Lease Co., Ltd.
|Established||May 1st, 1969|
|Head Office||Kojimachi Garden Tower, 5-1-1, Kojimachi, Chiyoda-ku, Tokyo|
・Leasing and installment sales of IT equipment, office equipment, industrial machinery/machine tools, commercial/service equipment, medical devices, transportation equipment (ships, aircrafts, automobiles, etc.), civil engineering and construction machinery, etc.
Company Overview – Sojitz Commercial Development Corporation
|Established||September 26th, 2001|
|Head Office||6-2-1 Ginza, Chuo-ku, Tokyo
Daiwa Ginza Building 7F
|Representative Director||Tetsuo Kondo|
|Ownership||Sojitz Corporation – 100%|
Planning, designing, constructing, owning, and operating shopping centers; property management; consulting
Shopping Center Overview
|Acquired Asset||Real estate beneficiary rights|
|Name of Property||Olinas Kinshicho (Olinas Mall/Olinas Core) https://www.olinas.jp/english/|
|Location||4-1-2 Taihei, Sumida-ku, Tokyo|
|Start of Commercial Operations||April 2006 (construction completed in 2011)|
|Parking Spaces||853 spaces|
[For questions regarding this press release, contact:]
Fuyo General Lease Co., Ltd. TEL：+81-03-5275-8891（Corporate Communications Office – Ms. Kimura /Mr. Watanabe）
Sojitz Corporation Public Relations Dept. TEL：+81-03-6871-3404
Sojitz Commercial Development Corporation TEL：+81-03-4213-7332