Japan-US Business Report LogoJapan-U.S. Business Report

No. 346, July 1998

Issue Index

Japanese Companies in the US


CONSTRUCTION AND REAL ESTATE

For a change, a Japanese company has made money on the sale of an American property acquired during the "bubble economy" years. NICHIEI CO., LTD. sold the Benjamin Franklin Plaza, a 19-story office building in downtown Portland, Oregon, to SPIEKER PROPERTIES, INC. of Menlo Park, California for $50 million. The Kawasaki, Kanagawa prefecture company paid $34 million for the building in September 1990.

An exchange rate of ¥140=$1.00 was used in this report.
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