Terms of the transaction have not been disclosed, but similar new projects run in the $15-million to $20-million range. PricewaterhouseCoopers says the new building would be in the 125,000-sf range, probably about five stories.
The move is being forced in part because PricewaterhouseCoopers' current principal metro area office is getting a new occupant. The accounting firm is located in Tower 400 of the Renaissance Center. General Motors, which owns the RenCen, is planning to move its OnStar unit into the corporate headquarters, which prompted PwC to start looking. PwC also rents about 35,000 sf of office space in Bloomfield Hills, which it will vacate when its new Detroit building is ready. The new office building is the first major significant "spin-off" from Ford Field, which opened as the home of the Detroit Lions two years ago.
PwC's major clients in the metro area include Ford Motor Co., GM and Masco Corp. The accounting firm says several of its clients told them that keeping a presence in the city was important.
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