(Crystal Proenza is associate editor of Real Estate Florida.)
BOCA RATON, FL-Dallas, TX-based Comerica Bank has relocated its Florida headquarters from 18000 Corporate Boulevard to the brand new Milan at Town Center class A building, a quarter mile up the street at 1675 N. Military Trail. The move has expanded the company's office by about 8,500-sf.
"Parts of our old lease were up, but our move was more driven by the availability of the facility that we've moved to," Randy Nobles, president of Comerica's Florida region, tells GlobeSt.com of the new multi-year lease. "It was an opportunity to significantly upgrade. It provides more space, accessibility and exposure." If the company had stayed at its former location, significant interior improvements would have been needed, Nobles explains, which would be difficult to accomplish while the company needed to continue operating.
In addition to a 3,500-sf banking center on the street level, Comerica now operates from the sixth floor of the new 96,000-sf, seven-story Milan at Town Center, which just opened this week. The building features free valet, back up generators, hurricane windows and average rental rates of $22-$24, according to 5295 Center Realty Development, the building's owner. Comerica currently has 54 employees working out of its new location.
In an effort to give back and invite the community into the building, Comerica has established a 754-sf community room adjacent to its office that it plans to make available to local organizations for meetings, training sessions or other activities. The room is fully armed with technology, says Nobles, and the company is offering up to $250 in catering for any non-profit business that wishes to hold a meeting in the space.
Comerica is also in the process of expanding its branches throughout the state. The bank currently has nine locations in Florida located in Boca Raton, Fort Lauderdale, Palm Beach Gardens, Naples, Riviera Beach, Sarasota, Stuart, Wellington and Weston, and will open its tenth location in Downtown Orlando on July 14 of this year. There is currently a smaller commercial real estate lending office in Orlando, which will be moved and expanded to a full-service banking facility at the new 152,000-sf Dynetech Centre. Comerica will lease retail space on the first floor of the structure, as well as 9,000-sf of office space, says Nobles.
Two more Comerica offices are scheduled to open next year in east Boca Raton and near the FAU campus in Jupiter, adds Nobles, but says he can't give up any more information about the plans. He did indicate that the new spaces would serve as satellites for larger offices already in place in those areas.
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