The Acquisition of Three Sapporo Properties and the Opening of the Sapporo Office

In November 2019, Daibiru acquired three properties in downtown Sapporo. The three properties were PIVOT, the Pentagram Building, and the Keiwa MT Building. The core property, PIVOT, had been the largest commercial facility in Sapporo’s commercial district for almost half a century, with its predecessors being the Chushingai Bldg. and Sapporo Shoppers Plaza (Daiei). At the time of acquisition, the main tenants were UNIQLO, GU, and Tower Records. The building bustled with tourists and local youth. Moreover, the three properties together totaled almost 3,300 m² of land, and acquiring such a large amount of land in the center of the commercial district was extremely difficult, making these properties a rare find. The location was highly convenient, being just 100 m away from Odori Station, a major transportation hub for area residents. Demand not only as a commercial facility but as an office building could be expected.

The original plan called for the acquisition of just PIVOT and the Pentagram Building, but due to the irregular shape of the site, Daibiru decided to acquire the high-visibility Keiwa MT Building that was adjacent to the property’s southeast corner at the same time in order to create a well-shaped, highly competitive property. That made the negotiations more complicated and difficult, and they nearly came to an impasse, but Daibiru persevered without giving up, and a final agreement was eventually reached.

Daibiru renamed the three properties Daibiru PIVOT, Daibiru PIVOT West, and Daibiru PIVOT South and continued to operate them. In January 2020, the Sapporo Project Office (now the Sapporo Project Department) was opened.