Scandal-hit Suruga Bank’s Tokyo branch building in Nihonbashi has been purchased by Mitsui Fudosan for an undisclosed price. The property was owned by the bank’s founding family, who are in the process of paying off loans they had extended to themselves via the bank.
The 9-story office building was built in 1967 and was designed by Kiyonori Kikutake (1928-2011), a founder of Japan’s Metabolist movement.
It sits in a prime location across the street from the historic Nihonbashi Bridge. In August, Mitsui announced a $10 billion redevelopment project for the river-front district surrounding this bridge.
Mitsui has a strong foothold in the Nihonbashi district, actively developing the area since the late 1990s.
Source: The Shizuoka Shimbun, October 31, 2019.
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