Magna International Inc. will relocate about 300 employees into 117,300 square feet of office space in a new Troy, Mich., headquarters by September.
The Troy-based automotive supplier plans to move from approximately 79,400 square feet at 600 Wilshire Drive to the 240,000-square-foot building at 750 Tower Drive in the North Troy Corporate Park.
Tracy Fuerst, director of corporate communications, said the companies Magna supplies were notified of the decision Monday morning.
Fuerst said the company had outgrown its existing space.
"We have some sales, marketing, engineering and other office personnel from existing operations around the area" moving to the North Troy Corporate Park, Fuerst said. "We only needed 113,000 (square feet) right now, but we were looking for a building that gave us a little bit more room to grow, if and when we needed it."
Magna, founded in 1957, also has operations on Crooks Road and Maple Road in Troy, Fuerst said.
Magna's lease at 600 Wilshire expires this summer, according to Fuerst.
In January, Magna announced plans to expand its Magna Seating of North America plant in Highland Park, Mich. The $2.2 million investment was expected to create 244 jobs.