Polk Announces Corporate Headquarters Move

SOUTHFIELD, Mich., Feb. 1 /PRNewswire/ -- R. L. Polk & Co. today announced that it is planning to move its corporate headquarters to the Travelers Tower II building located at 26533 Evergreen Road, in Southfield, Mich. Polk will occupy nearly five floors in the building, nine through 13, which includes more than 138,000 square feet of commercial space.

"We are extremely excited about the new location for our corporate headquarters," said Stephen Polk, chairman, president and CEO 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 re-design of our space. 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," he continued.

The new facility is less than two miles from Polk's current First Center Building site in Southfield. It brings convenience and enables all of Polk's local employees to be located in adjacent space within a single facility. The decision to move its corporate headquarters offers several other benefits for Polk including a central and convenient location that provides for easier access to major OEM customers in southeastern Michigan, while allowing for efficient implementation of new product development initiatives in a modern office space.

"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, "said Philip Cyburt, CEO of Lehman Brothers Holdings Inc.'s real estate group and managing director at Alvarez  & Marsal, a firm overseeing LBHI's restructuring. "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."

Lesley Lisser, LBHI's Detroit asset manager added, "We are delighted that Polk has signed on as our anchor tenant at Travelers Tower II and look forward to welcoming the Polk team. We hope that our collaboration with Polk helps reenergize the leasing efforts at the property with both our current and future tenant relationships."

LBHI has communicated that tenant services and amenities in the building will be fully utilized with Polk's occupancy, and plans are underway for upcoming improvements to the common areas.

Polk expects employees will begin relocating beginning in the fall of this year.  Signature Associates consulted Polk on the ten-year agreement.

About R. L. Polk & Co.

R. L. Polk & Co. is the premier provider of automotive information and marketing solutions. Polk collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and insurance companies, advertising agencies, media companies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Mich. with operations in Australia, Canada, China, France, Germany, Japan, Spain, the United Kingdom and the United States. For more information, please visit www.polk.com.

SOURCE R. L. Polk & Co.