Mitsubishi Estate in talks to raise office rents

TOKYO, May 26 (Reuters) - Mitsubishi Estate Co Ltd (8802.T), Japan's second-biggest property developer, said it is in talks with tenants to rise office rents in the Marunouchi area of central Tokyo by 15-20 percent.

The firm said it is seeking the price hike given the tight office building market situation in the area, with its vacancy rate in Marunouchi standing at 0.19 percent as of the end of March, the lowest since it started disclosing the data in 2003. (Reporting by Taiga Uranaka)