Polk Gains New Headquarters
SOUTHFIELD, Mich. — R. L. Polk & Co. executives highlighted the amenities of their new corporate headquarters, stressing the location will make doing business with major automakers easier.
All Polk employees now will be consolidated into a single site that's less than two miles from where the company currently resides. Polk will occupy nearly five floors of Travelers Tower II located at 26533 Evergreen Road in Southfield, Mich.
By taking up more than 138,000 square feet of commercial property, Polk anticipates that the additional modern office space will allow for efficient implementation of new product development initiatives. The company expects employees will begin relocating beginning in the fall of this year.
"We are extremely excited about the new location for our corporate headquarters," stated Stephen Polk, chairman, president and chief executive officer of Polk.
"It enables us to continue to produce and provide outstanding support and solutions for our customers, while realizing cost savings through an efficient redesign of our space," Polk continued. "Additionally, the new location keeps us in close proximity to several of our major customers and provides a more collaborative working environment for the Polk team."
Philip Cyburt — CEO of Lehman Brothers Holdings' real estate group and managing director at Alvarez & Marsal, a firm overseeing LBHI's restructuring — described what Polk's relocation decision means to the local real estate market.
"Since LBHI has taken over as the owner of the Travelers Tower II building, we have been committed to stabilizing and ensuring the long-term success of this property, Cyburt explained.
"We fully appreciate the importance this building has to the Southfield community and believe that Polk's decision to move into new corporate headquarters will have a positive impact on the city," he continued.
Lesley Lisser, LBHI's Detroit asset manager, also stressed how Polk's choice is a positive move for the area.
"We are delighted that Polk has signed on as our anchor tenant at Travelers Tower II and look forward to welcoming the Polk team," Lisser said.
"We hope that our collaboration with Polk helps re-energize the leasing efforts at the property with both our current and future tenant relationships," Lisser added.
LBHI said that tenant services and amenities in the building will be fully utilized with Polk's occupancy. Furthermore, plans are underway for upcoming improvements to the common areas.
Polk Signature Associates consulted Polk on the 10-year agreement for the occupancy.