Dana Holding Corp. will sell its corporate headquarters building and grounds in Toledo, Ohio, to Health Care REIT, a Toledo-based real estate investment trust, for an undisclosed sum.
Dana plans to relocate its corporate headquarters staff to its existing Automotive Systems Technology Center located in the Toledo suburb of Maumee by mid-2009.
"The relocation of Dana's corporate headquarters facility enables us to consolidate our local operations and make the most efficient use of our Toledo-area footprint," said John Devine, Dana executive chairman. "This move provides Dana with a headquarters facility that more appropriately reflects our company's profile, while also providing an excellent new home for a respected and growing Toledo-based company."
Under terms of the sale agreement, Dana would vacate its facility located at 4500 Dorr Street facility by September 2009. Health Care REIT plans to transfer its headquarters workforce from its current location in One SeaGate to Dorr Street.
The sale agreement, which is contingent on the support of state and local authorities, is anticipated to close by Oct. 1, 2008.
Dana plans to relocate its corporate headquarters staff to its existing Automotive Systems Technology Center located in the Toledo suburb of Maumee by mid-2009.
"The relocation of Dana's corporate headquarters facility enables us to consolidate our local operations and make the most efficient use of our Toledo-area footprint," said John Devine, Dana executive chairman. "This move provides Dana with a headquarters facility that more appropriately reflects our company's profile, while also providing an excellent new home for a respected and growing Toledo-based company."
Under terms of the sale agreement, Dana would vacate its facility located at 4500 Dorr Street facility by September 2009. Health Care REIT plans to transfer its headquarters workforce from its current location in One SeaGate to Dorr Street.
The sale agreement, which is contingent on the support of state and local authorities, is anticipated to close by Oct. 1, 2008.
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