DETROIT/December 17, 2009 - Comerica Bank will invest $18 million in its Detroit 411 W. Lafayette building, which it owns and will rename Comerica Bank Center. Comerica plans to relocate its Michigan headquarters to that building in 2012, upon expiration of its lease at Comerica Tower at One Detroit Center, located at 500 Woodward Avenue.
"Comerica is proud of its 160-year history of serving the residents and businesses of Detroit and Michigan," noted Thomas D. Ogden, president, Comerica Bank-Michigan. "Our investment in our new Michigan headquarters reaffirms Comerica's long-standing commitment to this community and brings most of our downtown Detroit employees together in one location." Comerica joins others, including the hospitality, tourism and entertainment industries, in helping revitalize the West side of downtown Detroit.
According to Ogden, Comerica's investment will include the purchase of new office furniture from a Michigan-based furniture manufacturer and will support its sustainability initiative by incorporating additional green features into the building. Additionally, Comerica continues to be one of the largest employers in Detroit and Southeast Michigan.
The relocation of the Michigan headquarters is expected to be seamless to customers. For the comfort and convenience of customers, two banking centers – Renaissance Center and Fort-Washington – near Comerica Tower at One Detroit Center, will undergo renovations as well.
History of Comerica Bank Center at 411 W. Lafayette
Built for Manufacturers Bank – a merger partner of Comerica Bank in 1992 – 411 W. Lafayette in Detroit opened in September 1971 and housed a banking center and various operations. The building was designed by Louis G. Redstone Associates, Inc. (now Redstone Architects, Inc.), a Detroit architectural, planning and engineering firm, and built by general contractor Barton Malow.
There are 20 precast concrete stone panels which weigh 11 tons each that adorn three sides of the building. This feature was designed and created by renowned sculptor Robert Youngman. These abstract art pieces represent Detroit's prominence in industrial design and production.
In 2009, Comerica Bank Center at 411 W. Lafayette earned the U.S. Environmental Protection Agency’s Energy Star, the national symbol for superior energy efficiency and environmental protection. In recent years, the building received from the Building Owners and Managers Association (BOMA), Detroit Chapter, the 2005-2006 Building of the Year Award, known as TOBY, for the 250,000 to 499,999 square-footage category.
About Comerica Bank
In Michigan, Comerica holds the No. 1 position for deposit market share, according to a report issued by the FDIC (deposits as of June 30, 2009). Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $59.6 billion at September 30, 2009. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts.
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