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Hilton relocates Mitsubishi subsidiary.

Mitsubishi Materials America Corporation, a subsidiary of the Tokyo-based, $4 billion Mitsubishi Materials Corporation, has moved to 399 Park Avenue, under a ten-year lease, reports Joseph Hilton & Associates, exclusive broker for the transaction.

Occupying 12,700 square feet on the 38th floor, the new offices will serve as the U.S. headquarters for the firm, which specializes in import/export and manufacturing of copper.

The corporation has approximately 15 locations in the United States, and more than 40 locations worldwide.

"We are delighted that our headquarters are at such a prestigious address," said President Chihiro Nakagome.

In addition to acquiring its quality space, the tenant was able to take advantage of the current market by negotiating certain lease provisions, such as a generous work allowance, permitting tenants to build an above-standard office interior without any out-of-pocket expenses, according to Hilton broker Craig Adler and executive vice president Mariyon Robertson, who arranged the transaction.
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Title Annotation:Mitsubishi Materials America Corp., Joseph Hilton and Associates
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Apr 8, 1992
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