Dana Rubinstein has the news that General Motors is staying in the General Motors Building, which is actually more surprising than it might sound.
GM was supposed to begin a new lease in the Citicorp Center on June 1st, but instead of moving that day, GM filed for bankruptcy, which allowed them to get out of the lease. Both buildings are owned by Boston Properties, so they worked out a deal to keep GM in its current, 114,300-square-foot digs. The troubled carmaker got something too, Dana says:
Perhaps the most clever clause in the whole transaction is the one prohibiting Boston Properties from renaming the GM Building for another car manufacturer, should another manufacturer take up residence in the building at some point in the near future. (Can you imagine how embarrassing it would be for GM’s New York headquarters to be in, say, the Kia building?)
Guess that’s one less thing they have to worry about.