BIG BLUE BOX: Tiffany & Co. announced Monday that its Japanese subsidiary has purchased the land and building housing its flagship in Tokyo’s Ginza shopping district for about $140 million, or 16.5 billion yen, plus transaction fees. The 61,000-square-foot, nine-story building, located directly on the Ginza, houses retail, restaurant and office tenants. The Tiffany store occupies approximately 12,000 square feet on the first, second and third floors. Tiffany opened the store in 1996 and expanded it in 1999.

Michael J. Kowalski, Tiffany’s chairman and chief executive officer, said in a statement, “Japan represents Tiffany’s largest international market, and the Ginza flagship store makes a meaningful contribution to our sales results. We are pleased that our strong balance sheet allowed us to move quickly to seize this unique opportunity and eliminate uncertainties concerning continued occupancy and rental rates.”

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