The building will not be vacant, however. The company will honorits long-term lease, says Peter Griffin, vice president of ANR.Primarily, the company occupies all of Tower 600, and occupies halfof Tower 500. Third-party tenants lease the balance. "We willexplore options to commercially lease them out to multi-tenants, ortry to find a single user," he tells GlobeSt.com.
Both towers have a combined 615,000-sf, with a lease rate ofabout $25.50 per sf.Employees are being offered positions elsewherein the merged company, says Kent Barry, Coastal's vice president ofpublic affairs. The move will take begin sometime around the fourthquarter of this year, he says, and should be completed by nextsummer."A small office will be left in Detroit to handle sales andmarketing," Griffin says.
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