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GM quits renting, buys headquarters for $626 million
One upside to a faltering real estate market is a plethora of good buys on property. General Motors took advantage of that fact by purchasing its Renaissance Center headquarters in Detroit for $626 million in cash. For another $200 million it picked up a couple of office buildings in Pontiac, too. GM spokeswoman Renee Rashid-Menem told The Associated Press that the company's lease was up for renewal on May 1, but they saw a good opportunity to get a deal on the place. She went on to say that as the real estate market improves, the company ... Read more →
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GM quits renting, buys headquarters for $626 million 1 year ago on Autoblog
One upside to a faltering real estate market is a plethora of good buys on property. General Motors took advantage of that fact by purchasing its Renaissance Center headquarters in Detroit for $626 million in cash. For another $200 million it picked up a couple of office buildings in Pontiac, too. ...
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