Thursday, June 01, 2017

Comerica Bank recommits to its namesake tower in downtown Dallas


Banking giant Comerica Bank (NYSE: CMA) has extended its massive office lease in its namesake skyscraper in downtown Dallas, which keeps the bank in the tower where it has been for a decade.

The Dallas-based financial services company has renewed its lease for 222,000 square feet of office space at Comerica Bank Tower at 1717 Main St. in the city's central business district.
This new lease will take Comerica's real estate commitment to the tower through September 2028. Comerica has been in the Dallas tower since the bank moved its corporate headquarters to Dallas in 2007.

Comerica Chairman and CEO Ralph Babb Jr. said the company was pleased to extend its lease at Comerica Bank Tower, which is a prominent part of the downtown Dallas skyline.

The 30-year-old office tower is the second tallest skyscraper in Dallas. It was designed by Philip Johnson and John Burgee for Mercantile Bank with 45,000-square-foot floor plates.

The extension of Comerica's relationship in the building proves the design was lasting and stood the test of time, said Ken Moczulski, founder and CEO of M-M Properties, which owns the office tower.

“Their recommitment to downtown is very exciting and an indicator of the positive improvements that have occurred and are ongoing in the neighborhood around the building," he said, in a statement