The building will not be vacant, however. The company will honor its long-term lease, says Peter Griffin, vice president of ANR. Primarily, the company occupies all of Tower 600, and occupies half of Tower 500. Third-party tenants lease the balance. "We will explore options to commercially lease them out to multi-tenants, or try to find a single user," he tells GlobeSt.com.
Both towers have a combined 615,000-sf, with a lease rate of about $25.50 per sf.Employees are being offered positions elsewhere in the merged company, says Kent Barry, Coastal's vice president of public affairs. The move will take begin sometime around the fourth quarter of this year, he says, and should be completed by next summer."A small office will be left in Detroit to handle sales and marketing," Griffin says.
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