How it started
History
The company was established in 1937 as a spin-off of the real estate holdings of the Mitsubishi zaibatsu. It was listed on the Tokyo and Osaka stock exchanges in 1953.
Its largest concentration of assets is around the Daimaruyū area (Ōtemachi, Marunouchi and Yūrakuchō districts) west of Tokyo and Yūrakuchō Stations, an area purchased by the zaibatsu from the Meiji government in 1890 and developed into an office district. Today, the area houses the headquarters of Mitsubishi Corporation, Mitsubishi UFJ Financial Group, MUFG Bank, Mitsubishi UFJ Trust & Banking, Mitsubishi Heavy Industries, Mitsubishi Electric, Meiji Yasuda Life, Nippon Yusen and other Mitsubishi group companies, as well as numerous other firms not affiliated with the group.
In 1990 Mitsubishi Estate fully bought out Rockefeller Group in New York City, the real estate company that then fully owned Rockefeller Center. Since then the older section of the Center has been sold and the Rockefeller Group, still owned by Mitsubishi, owns the western corridor of the complex.
Mitsubishi Estate led the redevelopment of the Umekita area north of Osaka and Umeda Stations between 2010 and 2013, including the Grand Front Osaka complex.
Mitsubishi Estate stated in November 2014 that it had agreed to sell a 41-year-old office building in Tokyo back to Mizuho Financial Group for $1.35 billion.
From Wikipedia’s article on Mitsubishi Estate, shared under CC BY-SA 4.0.2