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Federal-Mogul Corporation
World Headquarters
26555 Northwestern Highway
Southfield, Michigan

Photo courtesy of CoStar Group, Inc.

The Challenge

Take Federal-Mogul Corporation into the Southeast Michigan real estate market searching for 50,000 to 260,000 square feet of space. Target submarkets included: Southfield, Farmington Hills and Troy. Their primary concerns in approaching this relocation/renegotiation process included a central, desirable location, easy access to freeways and bus lines, cafeteria space and parking/security issues. Space could be spread out over five buildings, hence the disparity in the square footage search.

The Solution

A lenghty negotiation and exploratory process led to two viable options - Travelers Tower II and their current world headquarters location.Detailed analysis, consultation and negotiation with the current landlord led to the decision for Federal-Mogul Corporation to remain in their current location.

The End Result:

Through the efforts of CB Richard Ellis, Federal-Mogul completed a 12-year, 363,000 square foot lease renewal at their current location, realizing a reductiion in net rent from $6.6 million to $2.4 million annually. Additionally, the efforts of the CB Richard Ellis team resulted in 12 months rent abatement saving Federal Mogul $53 million over the term.

For More Infromation, Contact:

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