United Wholesale Mortgage will vacate its offices in Troy, Mich. for a bigger headquarters building in Pontiac and relocate all 2,100 employees.
UWM's parent company United Shore FInancial Services is buying and renovating the 600,000-square-foot Hewlett-Packard Enterprise building, which is more than twice the size of its current building in Troy. The move is scheduled for summer 2018.
"The new headquarters will not only create a more dynamic and collaborative work environment to maximize our team members' performance -- all under one roof and one campus -- it will also offer a wider assortment of perks and intensify the sense of culture and work-life balance that we pride ourselves on," Mat Ishbia, president and CEO of United Shore, said in a statement.
UWM reported doing $22.9 billion in broker originations last year, a 77% increase from its 2015 business.
The firm's employee count has grown to 2,100 from 400 since 2010, and it says its Troy building is now too small.
It will pay $40 million for the Pontiac building and 60-acre campus, and spend another $40 million on planned renovations.
The company sponsors the United Shore Professional Baseball League, an independent league of former collegiate players that debuted last year. Ishbia, a former Michigan State basketball player, is the son of United Shore's founder Jeffrey Ishbia.
United Shore's announcement caps a big week for corporate relocations to Pontiac. On Tuesday, state development officials disclosed possible plans by Williams International, which develops small gas turbine engines for aviation, to move its headquarters and 500 jobs from Commerce Township to the former Michigan Motion Picture Studios at 1999 Centerpoint Parkway in Pontiac.
In its search for new headquarters, United Shore sought a building and campus with adjacent parking and within a 15-minute drive of its current headquarters, company spokesman Brad Pettiford said.
The Hewlett-Packard Enterprise building currently houses several hundred workers for Hewlett-Packard and other tenants.
United Shore says it will become the Pontiac building's sole occupant and offer numerous amenities there for its employees, including a doctor's office, a Starbucks, massage rooms with a full-time masseuse or masseur, a full-length basketball court, outdoor volleyball court and a dance floor for afternoon dance parties.
United Shore has yet to decide its final plans for the Troy building, which it also owns.
