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March 30, 2007, 5:01 a.m. EDT

Japan's Sekisui House to buy prime Tokyo property from Sony

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By Arran Scott

TOKYO (MarketWatch) -- Sekisui House Ltd. said Friday it will buy a prime plot of Tokyo real estate from Sony Corp. where the electronics icon formerly located its headquarters.

The Japanese company will acquire for an undisclosed price about 25,000 square meters of land in the Shinagawa Ward of Tokyo, said a spokesman for Sekisui House.

It plans to develop the area with office and apartment buildings but has yet to determine the details, he said.

-Contact: 201-938-5400

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