First Look at Second Shanghai Store

Construction is underway for the second Apple retail store in Shanghai (China), in an area popular with ex-patriates and locals, and a short walk from the Xintiandi car-free shopping and restaurant zone and a major subway station. The future store occupies a large, ground-floor space at the corner of Huaihai Middle Road and Huangpi Road, in a shopping mall that was previously low-key and run down. Over the past year the four-level mall has been renovated, attracting many upscale international retailers, including a two-level Cartier’s, Tiffany & Co., and the first Gap store next to Apple’s space. Twin 38-story towers provide office space and service apartments. Apple executives have said they intend to have 25 stores in China by the end of 2012. Ground-floor retail rents in Shanghai are averaging about $20 per square-foot monthly, real estate sources say. A 10,000 square-foot store could cost Apple $2.4 million a year in rent. This store could open by late 2010 or in early 2011.

The “map” and “satellite” views of China do not coincide on Google Maps. The map view here is correct, while the satellite view is displaced by about 2,500 feet southeast.