Comerica Bank, headquartered in Detroit, will take 20,742 sf on the 10th floor of the 20-story Phelps Dodge Tower at One North Central Avenue in a move that will give the financial institution an additional 4,000 sf for expansion. The bank previously was located in about 16,000 sf of space at One Arizona Center.
Brian Black in the Phoenix office of Dallas-based Trammell Crow Co. tells GlobeSt.com that the banking firm, which will locate a branch and administrative offices in its new space, was impressed by the building's efficiency and the ability to get a sign promoting its name. "It was just a wonderful corporate atmosphere for them," he said.
The 460,000-sf office tower, located at Washington Street and Central Avenue in downtown Phoenix, was built in 2001 at a cost of $78 million by the Ryan Cos.
Black and Jerry Noble, also with Trammell Crow, represented the tenant in the lease negotiations. Luke Walker of CB Richard Ellis Inc. in Phoenix negotiated on the building owner's behalf.
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