Mitsui Fudosan America, Inc., Acquires 100 William Street Office Tower in Downtown Manhattan
Japanese Real Estate Company Purchases 21-Story, 400,000 Sq. Ft. Property
Mitsui Fudosan America, Inc. (MFA) today announced the purchase of 100 William Street, a 400,000 square-foot Class A office building in downtown Manhattan. The seller was a locally based partnership led by Lighthouse Real Estate Ventures, Inc., which had owned the property since 1999. Built in 1973, the 21-story office tower is currently over 90 percent leased. Tenants include Reuters, Interactive Data Corporation, Level 3 Communications and Citibank. Terms of the transaction were not disclosed.
“100 William’s location within downtown Manhattan perfectly complements our company’s long-term strategic presence in the New York market, while also affording the owners the opportunity to add value through a repositioning program,” said Kosei Murakami, President and CEO of MFA. “Our strategy of acquiring quality assets in established but growing markets is reflected in this transaction, and has helped to enhance global competitiveness and profitability. 100 William Street is a stable, incomegenerating property that will benefit from repositioning and the resurgence of the downtown market.”
MFA owns approximately 2.3 million square feet of commercial space in its flagship property at 1251 Avenue of the Americas in New York, where rents are now breaking $100 per square foot. The company continues to aggressively grow its U.S. portfolio, with a strong focus on the New York, San Francisco, Boston and Los Angeles markets. In the past year, MFA has acquired significant holdings in Washington, DC and San Francisco, CA, and also owns two substantial properties in downtown Los Angeles that it is holding pending future development opportunities.
“As we planned our reentry into the U.S. commercial real estate market, we were attracted to downtown Manhattan because of its solid underlying fundamentals and the continued, steady improvement of its office market. 100 William Street is centrally located in the revitalized Manhattan downtown district and possesses all of the characteristics we look for as we evaluate acquisitions,” said Mr. Murakami.
Darcy Stacom and William Shanahan of CB Richard Ellis, Inc. marketed 100 William Street on behalf of Lighthouse Real Estate Ventures, Inc.
###
About Mitsui Fudosan America, Inc.
Mitsui Fudosan America, Inc. (MFA) is a real estate investment and development company headquartered in New York, NY. MFA is the U.S. subsidiary of Mitsui Fudosan Co., Ltd. Mitsui Fudosan America, Inc., Japan’s largest publicly quoted real estate company. MFA’s history in the U.S. markets dates back to the early 1970’s and includes its acquisition and redevelopment of the renowned Halekulani Hotel in Waikiki, Hawaii, with additional investments in San Francisco, Los Angeles, San Diego, Washington, D.C., Chicago and New York. MFA’s flagship commercial property is located in Rockefeller Center at 1251 Avenue of the Americas in New York, one of the city’s most prestigious business addresses.
Contact for Mitsui Fudosan America:
Rob Solomon
Gavin Anderson & Company
212-515-1964
rsolomon@gavinanderson.com
Related Articles
-
New York, NY
-
Ike's Love & Sandwiches and Arsicault Bakery headline list of retail tenants to occupy Mission Rock development
San Francisco, CAThe San Francisco Giants' Mission Rock mixed-use development’s first retail tenants will include local establishments Arsicault Bakery and Ike's Love & Sandwiches, alongside a gym and a barbershop, the project announced Thursday.