DETROIT (AP) — General Motors Corp. said Thursday that the shaky real estate market convinced the automaker that it was a good time to buy its previously leased headquarters in downtown Detroit's towering Renaissance Center for $626 million.
GM revealed the May 1 purchase in a filing Thursday with the Securities and Exchange Commission. GM said it paid $626 million cash for the headquarters and $200 million cash for two office properties in nearby Pontiac.
The move comes in the face of GM's own business difficulties, including a $3.3 billion loss in the first-quarter, when Toyota Motor Corp. took the lead in global sales.
Wednesday, May 14, 2008
Tuesday, May 6, 2008
Michigan commercial real estate houses
The Commercial Board of Realtors' listing information exchange will get a serious boost when two major commercial real estate houses begin this month to share all their historical data and proprietary listings.
Signature Associates, based in Detroit and with offices in Grand Rapids and Kalamazoo, announced it would hand over its 2,400 listings to CPIX, the information exchange used by CBOR members and the Michigan Economic Development Corp.
Colliers Inc., based in Southfield, also will share its information, including some 1,000 listings, Signature Vice President and managing director Mark Woods said.
Signature Associates, based in Detroit and with offices in Grand Rapids and Kalamazoo, announced it would hand over its 2,400 listings to CPIX, the information exchange used by CBOR members and the Michigan Economic Development Corp.
Colliers Inc., based in Southfield, also will share its information, including some 1,000 listings, Signature Vice President and managing director Mark Woods said.
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