Tiffany & Co. Acquires Building Housing Flagship Store for $140M

TOKYO-Completing its acquisition of flagship properties in its three biggest markets, Tiffany & Co. has acquired the land and building that houses its flagship store in Tokyo’s renowned Ginza shopping district. The $140-million acquisition (not including transaction fees) was made through its Japan-based subsidiary.

The property is a 61,000-sf, nine-story building located directly on the Ginza. It houses retail, office and restaurant tenants. The Tiffany store, which opened in 1996 and expanded three years later, occupies 12,000 sf on the first three levels.

Tiffany Chairman/CEO Michael Kowalski says Japan is the company’s largest international market and the acquisition will “eliminate uncertainties concerning continued occupancy and rental rates.”