Jump to content
News
Reviews
Discussons
Activity
Create New...
Close
  • Drew Dowdell
    Drew Dowdell

    By Drew Dowdell •

    General Motors Looked At Selling RenCen in 2018

      ...Possible sale as part of a global restructuring...

    Among General Motor's restructuring and cost slashing activities of 2018, GM was apparently in talks to sell their headquarters in Detroit.  GM bought the Renaissance Center in 1996 for $70 million and has made substantial renovations over the years.   The RenCen, as it is also known, was originally built by Ford in 1971 who later sold it in the 1980s.

    The potential buyer was billionaire Dan Gilbert.  Talks fell through rather early because the aging structure requires expensive upgrades to its heating and air conditioning systems along with other renovations. There does not appear to be another buyer in talks with GM at this time.

    News of the potential sale follow a year of cost cutting measures by the company that include closing five North American plants and cutting up to 14,000 jobs.  The company hopes to have $6 Billion in annual savings by 2020. 

    Edited by Drew Dowdell

    Go to articles

    User Feedback

    Recommended Comments

    Drew Dowdell
    20 minutes ago, riviera74 said:

    IF GM were successful in selling RenCen, where would they move the HQ to?  Or would it be a sale and leaseback?

    No idea either way. I don't think they got far enough for it to start to matter. 

    Link to comment
    Share on other sites
    G. David Felt

    Funny that a comment on the original story says sell the whole company to Gilbert as the company initials would not change and the person believe Gilbert would run it better. lol :P 

    Link to comment
    Share on other sites
    oldshurst442

    Downsizing is an amicable and sensible idea. Assuming that GM wants to sell and move out of RenCen is for downsizing reasons and assuming that GM is still considering selling and moving out...

    There is no need for an ostentatious and lavish headquarters in today's world reality.  However, a big corporation as big as GM or Mercedes does need sufficient real estate to house all the necessary offices required...

    Has GM outlived the need for a headquarters as imposing as RenCen?

    Whatever building they decide to move to if they sell RenCen, Im willing to bet the new place wont be as flamboyant nor quite as big either. 

     

     

     

    Link to comment
    Share on other sites
    balthazar

    balthazar 15,107

    Posted (edited)

    Anyone have any ideers on the occupancy of the RenCen by GM / other companies? I can see if they own the building and it has a lot of unleased space… but otherwise I would assume the move & purchase cost of another would be huge.

    Is there room for new construction in Warren @ the Tech Center? 

    Edited by balthazar
    Link to comment
    Share on other sites
    Drew Dowdell

    Well there is many floors of a hotel in there. Plus restaurants, conference centers... It's a bit like a mall on the first few floors. 

    Very confusing to find your way around though.

    • Thanks 1
    Link to comment
    Share on other sites
    daves87rs
    4 hours ago, balthazar said:

    Anyone have any ideers on the occupancy of the RenCen by GM / other companies? I can see if they own the building and it has a lot of unleased space… but otherwise I would assume the move & purchase cost of another would be huge.

    Is there room for new construction in Warren @ the Tech Center? 

    Pretty much what Drew said...I know there is a small mortgage company in there as well.

    And with the way they are cutting the upper fat right now, I think they could squeeze those folks into Warren......

    Link to comment
    Share on other sites
    NINETY EIGHT REGENCY

    Maybe they could move back to the old building that is called "Cadillac Place" now or move things out to the tech center in Warren, Michigan.They stopped construction on expansion of the tech center.  They must have realized they needed to right size the company. 

    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.

    ×

  • google-news-icon.png



×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search