The bank plans to set up a centralized operations center in the 1.2-million-sf Infomart at 1950 N. Stemmons Fwy., putting teams now predominately at two other Downtown buildings into the space. According to a bank spokeswoman, the BoA teams occupy 418,000 sf at 1401 Elm St. and 264,000 sf at 1025 Elm St. The one million-sf One Main Place at 1201 Main St. will pick up part of the back-office operations.

"The timing of this was timed to coincide with the expirations of several other lease agreements in Dallas," the spokeswoman tells GlobeSt.com, adding the One Main Place lease goes into effect January 2010. In addition, BoA becomes the largest tenant in both high-rises. She confirms that the search was confined to the Downtown area.

BoA's brokers were a CB Richard Ellis team consisting of executive vice president Phil Puckett, senior vice president Chris Herrmann and vice president Joseph Cicardo. The bank will keep its main CBD office at Bank of America Plaza.

Randy Kohana, principal owner of New York City-based RAK Group, says One Main Place's occupancy jumps to 90% with the 10-year lease. With the deal now done, the Infomart has 248,926 sf empty, according to North Texas Data Exchange.

Kohana credits a three-year renovation at One Main Place as a key driver for the bank's decision to stay put and expand rather than relocate. BoA has been a One Main Place tenant since 1985. "It is a confirmation of the west side of the Central Business District as a major financial district," he says in a just-released statement about the high-profile deal.