nORBESA - Case Study of Property Management
The vacancy rate took a turn for the worse in a recently-built landmark commercial building. We were tasked to revive the building that responded to inbound needs.
Support for selling commercial facilities
"nORBESA" is located in the center of Sapporo City, Hokkaido. With a Ferris wheel on its rooftop, it is a commercial complex that is considered a landmark in the Susukino area. Although the property has higher consumer awareness than other commercial buildings in Sapporo City, its tenant composition did not match the market conditions, and the vacancy rate continued to increase into its fifth year from opening. Toward the reconstruction of the building, JLL was asked to increase its value and subsequently to work operation and management. Therefore, JLL started to work on the revival of the recently-built commercial building.
For its revival, attention was given to foreign visitors to Japan, who were increasing rapidly at that time. An objective was set to capture inbound needs and improve the ability to attract customers throughout the entire building. JLL promoted the invitation of tenants who target foreign visitors, including restaurants that specialize in inbound visitors. Furthermore, anime/game related retailers and cosplay shops were also invited, and the building was considered as the trendsetting place for pop culture. The concept was unique for a commercial building in a local city, and it worked well. Tenant mixing pushed forward by JLL, has restored liveliness to the building and revived it as a tourist spot that attracts visitors. When the occupancy rates increased, JLL supported the sale of the property in accordance with the building owner's intentions.