CB Richard Ellis - PenskeCorporation

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Penske Corporation
World Headquarters
2555 Telegraph Road
Bloomfield Hills, Michigan

The Challenge

The corporate offices of Penske Corporation were location in Detroit's Diesel Corporation's to DiamlerChrysler made it difficult to co-exist. Penske Corporation needed its own Class 'A' facility. The company also desired a more central location in a building that would be able to house a rapidly expanding operation.

The Solution

Analysis of the Birmingham-Bloomfield submarkets of Metropolitan Detroit provided options from which Penske Corporation decided to pursue building ownership rather than leasing. Penske opted for a facility featuring more space than immediately necessary to enable corporate growth through acquisitions.

End Result

Through the efforts of CB Richard Ellis, Penske Corporation took ownership, a new headquarters facility on Telegraph Road in Bloomfield Hills. Occupying 57,984 square feet, Penske Corporation's new building is located near executive homes, as well as, Oakland County Executive Airport. The building, formerly Class 'B' space, was built-out and redefined to be Class 'A' Corporate Headquarters facility.

For More Information, Contact:

Larry S. Michael
Senior Vice President
Global Corporate Services
248.351.2019
larry.michael@cbre.com

Michael N. Lynch
Vice President
Global Corporate Services
248.351.2005
mike.lynch@cbre.com