Discuss Detroit » Archives - July 2007 » Comerica's new address « Previous Next »
Top of pageBottom of page

3rdworldcity
Member
Username: 3rdworldcity

Post Number: 866
Registered: 01-2005
Posted on Monday, August 13, 2007 - 5:35 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

In case anyone wants to send then "Good Luck" cards, Comerica's new address in Dallas is 1717 Main.

Comerica is leasing the first 5 floors and the ground floor will be a Comerica Banking Center. It's a distinctive granite and glass building, 20 years old. It's 787 feet tall, the third largest skyscraper in Dallas and the 6th tallest in TX. It has 60 stories and 1.5 million sq. ft.

The building will be renamed Comerica Bank Tower.

Guess what. It was designed by Johnson and Burgee, so they will probably feel right at home.

It's classified as a "AA" building.

I know all we DY forumers wish them well.

(My guess is that the building possibly has some vacancy problems. To have five floors and the ground floor level empty, and if the owners are willing to rename a 60 story building for a tenant w/ 5 floors is very unusual in my opinion.)

[Hey, remember, I'm just the messenger.]
Top of pageBottom of page

Miketoronto
Member
Username: Miketoronto

Post Number: 614
Registered: 07-2004
Posted on Monday, August 13, 2007 - 5:45 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Downtown Dallas last I heard had something like the highest vacancy rates in the U.S.A.
Top of pageBottom of page

Quinn
Member
Username: Quinn

Post Number: 1437
Registered: 01-2005
Posted on Monday, August 13, 2007 - 5:49 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

http://skyscraperpage.com/cities/?buildingID=225


dss
Top of pageBottom of page

Danny
Member
Username: Danny

Post Number: 6341
Registered: 02-2004
Posted on Monday, August 13, 2007 - 5:53 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Good Riddance Comerica!

Enjoy your life in Redneckopolis!

Watching folks in Michigan pull their bank savings account out of Comerica right away.
Top of pageBottom of page

Rrl
Member
Username: Rrl

Post Number: 876
Registered: 12-2003
Posted on Monday, August 13, 2007 - 6:19 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

According to Emporis, the first five floors were a stock exchange, maybe why it was vacant & available.
It's listed as the Chase Center.
http://www.emporis.com/en/wm/b u/?id=chasecenter-dallas-tx-us a
Top of pageBottom of page

3rdworldcity
Member
Username: 3rdworldcity

Post Number: 869
Registered: 01-2005
Posted on Monday, August 13, 2007 - 6:41 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Clarification. Maybe the building did not have a vacancy problem. Comerica is leasing 164,000 sq. ft. (quite a lot for the 225 employees they're moving there.) It's a 15 yr lease.

Apparently, the owner reached an early termination agreement w/ J.P. Morgan Chase, whose lease of the space went through 2010. It's leaving at the end of the year. Chase had the naming rights, and that's how Comerica got them. Chase also leased, and sublet to another financial services tenant, another 105,000 sq. ft., unaffected by the Chase lease termination.

I'd sure like to hear all the nips and tips of this whole deal.
Top of pageBottom of page

Bratt
Member
Username: Bratt

Post Number: 587
Registered: 01-2004
Posted on Monday, August 13, 2007 - 6:59 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I still love them...they are a customer
Top of pageBottom of page

Livernoisyard
Member
Username: Livernoisyard

Post Number: 3729
Registered: 10-2004
Posted on Monday, August 13, 2007 - 8:36 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Weren't those 225 employees actually highly paid middle or senior managers--yet not paying Michigan and Detroit income taxes? Wouldn't Comerica be expected to have hired a support staff also, upping the total workforce somewhat?

But again, maybe it's like it's depicted in their competitors' media ads: They do things BIG in the D--Dallas, that is!
Top of pageBottom of page

Mbr
Member
Username: Mbr

Post Number: 226
Registered: 03-2005
Posted on Tuesday, August 14, 2007 - 6:38 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Here are all the details:

"Comerica's HQ Decision No Longer in Question"
http://www.globest.com/news/97 0_970/dallas/163140-1.html
Top of pageBottom of page

Gistok
Member
Username: Gistok

Post Number: 5102
Registered: 08-2004
Posted on Tuesday, August 14, 2007 - 6:51 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'm still gauled by the fact that the Comerica Chairman still heads Detroit Renaissance... Maybe he's angling to take other companies with him...
Top of pageBottom of page

Mackinaw
Member
Username: Mackinaw

Post Number: 3583
Registered: 02-2005
Posted on Tuesday, August 14, 2007 - 8:06 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

First five floors and they get the building renamed? Interesting.

They have a few remaining years on their current large lease which remains at One Detroit Ctr. I'm eager to see how much they re-lease. They could very well shrink their lease by a greater amount than the square footage we lost with the HQ move, but it probably wouldn't make any headlines. Of course we'll have 3WC to inform us.

Add Your Message Here
Posting is currently disabled in this topic. Contact your discussion moderator for more information.