Comerica inks large lease in Dan Gilbert building

Comerica Inc. has inked a large short-term lease at Dan Gilbert’s One Campus Martius building downtown.

The bank confirmed Friday that it signed a deal at the tower to serve as a home for 400-plus Comerica Bank Center employees while its 398,000-square-foot building at 411 W. Lafayette Blvd. is under renovation.

In a statement, the bank said “no customers or business operations will be impacted by this transition.”

“We have been committed to Detroit for over 175 years and look forward to building on our legacy as we continue our focus on serving our customers and supporting the community,” the bank’s statement says.

Dallas-based Comerica (NYSE: CMA) was headquartered in Detroit until 2007.

Also in a statement, Ivy Greaner, Bedrock’s COO, said Comerica’s lease “underscores the fact that the building is in a prime location with exceptional amenities.”

According to CoStar Group Inc., a Washington, D.C.-based real estate information service, the lease term is one year. CoStar describes the lease as encompassing all of the 72,000-square-foot seventh floor in the 1.3 million-square-foot building that fronts Campus Martius.

One Campus Martius, formerly the Compuware Corp. headquarters, is home to big-name tenants including Microsoft, Plante Moran, Dynatrace and Rocket Companies Inc.

It’s the latest large deal for the bank.

Last year, Comerica officially opened a new regional hub in Farmington Hills, totaling about 340,000 square feet as part of a consolidation of three suburban offices into one with approximately 2,100 employees.

As part of its suburban consolidation, it has sold off the three buildings it vacated.

First, a 382,000-square-foot building at 39200 Six Mile Road in Livonia sold to Birmingham-based Markus Management Group for $21.1 million in September 2023, and in July 2023, Michigan United Credit Union paid $3.9 million for the old 31,000-square-foot Comerica building at 3501 Hamlin Road.

Most recently, the Canton Township office of New York City-based industrial and warehouse developer Ashley Capital paid about $2.16 million for Comerica’s former 198,000-square-foot building at 3551 Hamlin Road in Auburn Hills, according to CoStar. That deal was finalized in October.