Trader NICHIMEN CORP. and big contractor KAJIMA CORP. have decided that building warehouses for eventual sale is a money-maker. The first location for this equally owned project is Sacramento, California. There, at a cost estimated at $31 million, they will put up six warehouses on a 1.9 million square foot piece of property, building two at a time. The first pair should be ready by June 1999. Once all six are up, occupied and profitable, the partners expect to sell the complex. A company formed by the U.S. subsidiaries of Nichimen and Kajima will manage the distribution center.
An exchange rate of ¥117=$1.00 was used in this report.aaaaaa