General Motors (NYSE:GM) is reportedly considering a move from its iconic Detroit headquarters complex.
The trade new site Autoblog, citing Associated Press and Bloomberg reports, stated the auto manufacturer is planning to relocate its headquarters to Hudson’s Detroit, a massive mixed-used complex being developed by Dan Gilbert, co-founder of Rocket Companies (NYSE:RKT). General Motors is reportedly working with the real estate firm Bedrock to study how it can redevelop its headquarters complex.
Two years ago, General Motors CEO Mary Barry insisted that will the company planned to keep its current Detroit headquarters, she wasn’t able to predict what could happen over the coming years. General Motors’ need for office space has declined due to remote work and the retirement of roughly 5,000 employees via early retirement buyouts.
The headquarters complex is within the seven-tower property known as The Renaissance Center, which was built by Henry Ford II in the 1970s as part of an initiative to reanimate Detroit’s economically dismal downtown area. General Motors acquired the complex in 1996 and moved its headquarters into the property. In January, two of the towers at the property were sold for an undisclosed sum.
Photo: Notorious4Life / Wikimedia Commons
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