ANN ARBOR, Mich. – The University of Michigan CU closed a deal yesterday to buy the 58,000-square-foot former headquarters building of the defunct Ann Arbor News in downtown Ann Arbor.
The building, built in 1936, will serve as the credit union’s new administrative office, centralizing the $400 million credit union's non-branch employees. The cost of the building, a three-story, Art Deco office with adjacent parking and a second parking lot, was reported to be around $9 million.
The building in downtown Ann Arbor – located on the corner of South Division and East Huron Street – had been vacant since the Ann Arbor News closed in July. The building was owned by the Herald Publishing Co. LLC, which also has ownership ties to AnnArbor.com.
