The Otemachi PAL Building is located directly above the Otemachi subway station and stands on a corner lot near an intersection of Hongo-dori Street. The building has nine stories above ground and three below with 27,923 m2 of total floor space and was completed in 1961.
Promise purchased the building for more than 40 billion yen [$470 million] in 2004. It is occupied by the company’s headquarters, as well as its group companies. After it sells the building, Promise will continue to lease and use it as its headquarters for the time being.
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[Outline of Dealing]
Name: Otemachi PAL Building (Promise Headquarters Building)
Price: 72,031,000,000 yen [$850 million]
Rights: Direct ownership (50% joint ownership each)
Location: 1-2-4 Otemachi, Chiyoda-ku, Tokyo (residence indication)
Access: close to Otemachi subway station
Land area: 2,760.39m2
Total floor space: 27,923.18m2
Structure: SRC
Stories (above/underground): 9/3
Completion: 1961
Dealing period: March 2011 (handover)
[Related article]
- MITSUI FUDOSAN Acquires Mitsui Life Insurance Otemachi Building for 117.5 Bil. Yen
[Related site]
- Announcement from Mitsui & Co. (PDF)