Automotive components supplier Dana Holding has reached a contingent agreement with real estate investment trust Health Care REIT to sell its corporate headquarters building and grounds to Health Care REIT.

The sale agreement, which is contingent to the support of state and local authorities, is anticipated to close by October 1, 2008.

John Devine, executive chairman of Dana, said: "The relocation of Dana's corporate headquarters facility enables us to consolidate our local operations and make the most efficient use of our Toledo-area footprint."

Staff Writer, Automotive Business Review.