Illustration for article titled GM Buys Renaissance Center Headquarters for $626 Million

General Motors has announced it will be taking advantage of the downturn in the Detroit real estate market (burning cars isn't an amenity) and purchasing its Renaissance Center headquarters. The crown jewel of the Detroit downtown riverfront has served as the General's headquarters since 1996 and after the successful loss of $3.3 billion last quarter, GM is making a move to increase its overhead. We're assuming that $626 million will be buying all five towers but as GM only lives in a couple of them, it's possible Rick Wagoner will be taking on new responsibilities as the building super. [Internation Herald tribune]


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