Stellantis could sell its massive headquarters in Auburn Hills, Michigan, and the United Auto Workers Union isn't exactly thrilled about it. However, the automaker seemingly doesn't have plans to completely skip town and leave its HQ in someone else's hands. Instead, The Detroit News is reporting that Stellantis is interested in a sale-leaseback deal, in which it sells the building and then leases back parts of it from the new owners.
It might sound counterproductive to sell your home and then become a tenant in it, but there are some real financial benefits to doing so—mainly, cash. Stellantis could net anywhere between $250 million and $500 million for the 500-acre property, according to commercial real estate firm Signature Associates. That large chunk of cash could be used for anything from investing in EVs to paying off debt, and then Stellantis would just lease whatever parts of the facility it needs afterward.
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