After acquiring Comerica Bank last May in a $10.9 billion deal, Fifth Third Bank plans to establish its Texas headquarters at Preston Center, near the Dallas North Tollway and Northwest Highway intersection. D Magazine reports Fifth Third also plans to exit its lease at Comerica Bank Tower in downtown Dallas, a high-rise Comerica relocated to from Detroit in 2007. Fifth Third says it will be out of the Comerica Tower in 90 days.
Fifth Third expects to occupy two floors and 63,000 square feet at Preston Center.
As for its former office tower, where about 200 Comerica employees worked, Slate Asset Management plans to redevelop the property alongside Stream Realty by adding 242 hotel rooms and 240 residential units. The tower spans nearly 2 million square feet, but only about 600,000 square feet will be office space following the transformation.
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