DETROIT, Aug. 13 /PRNewswire-FirstCall/ -- Comerica Incorporated (NYSE: CMA) today announced the site of its new corporate headquarters in Texas. The banking company has signed a multi-year lease at the 60-story office tower located at 1717 Main in downtown Dallas. Terms of the lease were not disclosed.
"We are pleased to enhance our presence in the central business district of downtown Dallas through the lease of a building considered a landmark in Texas," said Ralph W. Babb Jr., chairman and chief executive officer, Comerica Incorporated and Comerica Bank.
Comerica will lease the first five floors of the distinctive granite and glass building, which will have a Comerica banking center on the first floor. The Class AA building serves as a hub for the underground pedestrian walkway system that connects retail shops, restaurants and other area buildings.
Designed by Philip Johnson and John Burgee, architects, the building at 1717 Main is a dynamic part of the Dallas skyline. At 787 feet tall, it is the third largest skyscraper in Dallas and the sixth tallest building in Texas. The building, to be renamed the Comerica Bank Tower, was constructed in 1987 and has 1.5 million square feet of office space.
The relocation of Comerica's corporate headquarters from Detroit to Dallas, announced on March 6, is part of the company's ongoing efforts to accelerate growth and balance. Babb said the relocation "is a logical next step in accelerating our growth and ensuring our success for years to come."
Comerica was advised on the lease by CB Richard Ellis Inc. and The Staubach Company.
The building is owned by 1717 Dallas Partners LLC and the leasing agent is Cushman & Wakefield of Texas, a real estate services firm. Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful. Comerica Bank locations can be found in Arizona, California, Florida, Michigan, and Texas, with select businesses operating in several other states, and Canada and Mexico. Comerica reported total assets of $58.6 billion at June 30, 2007. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts.Photo: Newscom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO
SOURCE: Comerica Inc.
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