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Japan's Mitsui Fudosan, Tishman Speyer to jointly develop US office complex

Japan's Mitsui Fudosan Co. Ltd. decided to partner with Tishman Speyer to develop the Brannan Square complex in San Francisco.

The project, at 598 Brannan St. in the South of Market neighborhood, will be the company's largest office development on the U.S. West Coast. It will comprise three buildings with 11, 13 and 10 floors, with a total floor space of about 1.2 million square feet and floor plates averaging over 30,000 square feet.

The company, which will participate in the project through Mitsui Fudosan America, said construction on the first two buildings will begin in late summer, with delivery expected by autumn 2022. Construction on the third building is set to be completed in 2023.

In a separate filing, Mitsui Fudosan said it was joining in the Innovation Square Phase II business in Boston through Mitsui Fudosan America. The project in 316–318 Northern Ave. will be the company's first overseas rental lab and office business. The company will rent an entire building, with a site area of roughly 98,000 square feet and a total floor area of around 306,000 square feet, to Vertex Pharmaceuticals Inc.

Construction on the Innovation Square Phase II business is expected to begin in 2020 and be completed in 2021.