AsianFin -- KKR & Co. is the leading contender to acquire Nissan Motor Co.’s headquarters in Yokohama, having submitted a bid of about 90 billion yen ($609.8 million), according to a person familiar with the matter.

The offer was made through KJR Management, KKR’s real estate arm, which placed the highest bid for the property, the person said, asking not to be identified as the talks are private.

A key condition of the deal is a 10-year lease-back arrangement, allowing Nissan to continue occupying the building after the sale. Negotiations are ongoing and a final agreement has yet to be reached, the source added.