About a month after announcing a major office development with SKS Partners in the South of Market area (SoMa),
Japanese real estate giant Mitsui Fudosan America, Inc. (MFA) has opened an office in San Francisco.
The office expands MFA’s presence in the U.S. as it continues to make acquisitions in key markets and pursue development projects. The company said the opening of the new San Francisco office "underlines MFA’s interest in increasing its activities in the West Coast’s gateway cities," notably Los Angeles, San Francisco and Seattle.
"The major U.S. west coast cities have always been important to us and a focus for our long-term expansion plans here," said Mitsui Fudosan America President and CEO Yukio Yoshida, based in the company’s U.S. headquarters in New York. "Having our executives on the ground in San Francisco will not only enrich our relationships with existing business partners in the city and the region but also enable us to pursue important new opportunities."
The San Francisco branch manager will be Kenji Yamamoto, who will report directly to Yoshida. Jeff Menard, director of acquisitions, will also be based in MFA’s San Francisco office.
MFA has a history of investment in San Francisco dating back to the development of 505 Montgomery Street in 1988 and the Clock Tower project located on 2nd Street in 1992. In 2007 MFA acquired 180 Montgomery St., a 303,000-square-foot office building in the North Financial District. Mitsui Fudosan's other properties in California are both in Los Angeles: 8th Street & Figueroa, and 8th, Grand & Hope Streets.
Mitsui Fudosan Group is growing globally under its plan to diversity the company’s nearly $45 billion portfolio by increasing the allocation of international holdings relative to the company’s domestic holdings in Japan by 2017.
The San Francisco office will begin in a temporary location at 71 Stevenson Street. MFA’s permanent office will be located at 100 First Street in San Francisco and plans to be open by March.