Comerica's headquartersrelocation

Studley's preliminary calculation for tenant net effective rentis $21.75 per sf for class A CBD space. To seat a deal likeComerica, it's a safe bet that the effective rate will be shavedconsiderably more.

The inside source says Downtown is a must--not an option--forComerica, which now occupies six million sf in its headquarterscity of Detroit and 12 million sf in its US offices. In Dallas,Comerica leases 60,000 sf on floors one, two and four after 20years in the 1.4-million-sf Thanksgiving Tower at 1601 Elm St. Wordis there's term on the lease, but it's only short term.Nonetheless, the deal runners know just how aggressive the new owner, YounanProperties Inc. of Los Angeles, can get when it wants to hold ontoa top name tenant with long-term expansion capabilities. Comerica'sdecision will bring 200 corporate jobs to Dallas, the same numberit plans to phase out in Michigan in the next three years. Comericanow employs 1,300 workers in its local office and 71 branches inthe state.