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Lots -O-Space

Last week, the Wall Street Journal ran a feature article about the liquidation of unwanted General Motors assets that have been discarded by the company as it trims down into the “new” GM. I was amazed by the list of some of the assets, and wondered who in the world would buy them: a four-million-square-foot plant that built transmissions, equal to the size of 110 football fields; a 4.5-million-square-foot factory truck assembly plant that is bigger than the Pentagon. In all, the GM junkyard contains over 50 million square feet of unwanted factory and office space–roughly the equivalent of 25 Empire State Buildings. To manage dumping these “assets,” the bankruptcy court formed Motors Liquidation Corp. So what does all this have to do with organizational issues? Well, I was thinking about the ranks of real estate brokers on the case and wondered what smart folks are coming up with to move these incredible properties. What could you possibly do with a four-million-square-foot factory in Ypsilanti, Michigan? If you have any ideas, let me know and I’ll pass them along to the folks at Motors Liquidation.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.
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VOIT REAL ESTATE SERVICES, LLC Property Manager(NEWPORT BEACH, CA) The property manager maintaining properties, including maintenance issues, service contracts, capital projects; overseeing general contractors and subcontractors, including review of scope or work, estimates, proposals, and contracts; managing the occupancy of properties, including corresponding with tenants, preparing lease briefs, commencement letters, and other lease addendums, handing security deposit refund requests, maintaining insurance certificates; producing and administering property budgets and financials.

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