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Acquisition of Real Estate in Northern Virginia, U.S.A.

  • Investment
Exterior view of the acquired office building

MORI TRUST CO., LTD. (Head Office: Minato-ku, Tokyo; President: Miwako Date) hereby announces that it acquired two office buildings located in Northern Virginia in the United States on March 2, 2022 (Japan time: March 3) through its U.S. subsidiary MORI America LLC.

From the foundation, our company has aimed to build asset portfolios based on “selection and concentration.” As one of the key strategies of our “Advance 2027” medium- and long-term vision formulated in 2016, our company has raised the goal of “investment in overseas real estate” with a scale of up to 200 billion yen.

The acquired property is located near a highway connecting Washington, D.C., the capital city, with Dulles International Airport. This area is called the Dulles Technology Corridor, and is expected to grow further as high-tech clusters of promising tech companies and data centers have formed, as well as the expansion of the Metro and many new developments are being carried out along the Metro line. The Property, which consists of two office buildings (including a parking lot), is located in a good location close to the new Metro station that is scheduled to be opened, and since both of the two buildings are 100% leased, the Property will be managed as a stable real estate asset.

Our company will continue to actively promote overseas real estate investment with an emphasis on “stability,” “sustainability” and “growth potential,” with the aim of building an optimal asset portfolio that is less susceptible to global economic fluctuations.

Acquired Properties

(1)Overview of Properties

Property Name 2235 Monroe Street 2245 Monroe Street
Property Address 2235 Monroe Street, Herndon, VA 2245 Monroe Street, Herndon, VA
Site Area Approx. 28.49 acres
Rentable Area 161,359 sq. ft 162,357 sq. ft
Total: 323,716 sq. ft
No. of Floors 6 floors above ground 6 floors above ground
Property Type Offices, Parking garage (1,119 spaces)
Construction Type Reinforced concrete construction
Year Built 2002
Date of Acquisition March 2, 2022 (Japan time: March 1)

(2)Vicinity Map

2.Overview of Local Subsidiary

Company name         :MORI America LLC

Member                :MORI TRUST CO., LTD.

Registered Office Address:251 Little Falls Drive, Wilmington, DE 19808 U.S.A.

Date of Establishment    :November 7, 2016

Business Content        :Real estate business in the United States