For sale: Comerica’s Detroit building on Fort St.
Comerica Bank is selling its historic building at 201 W. Fort in downtown Detroit as part of a $3 million plan that involves closing, merging and opening branches in New Center and other parts of Midtown, the company said Monday.
A Comerica spokeswoman said there was more than one interested buyer in the Fort Street location. An asking price was not disclosed.
The downtown building was designed by famed architect Albert Kahn and is more than 100 years old. The building has 63,000 square feet of space but Comerica only uses the ground floor, while the second and third floors are empty, the spokeswoman said.
Once the West Fort street building is sold, Comerica would look for another downtown location to lease or buy.
Beyond the Fort Street building, one branch location is closing in southwest Detroit, and the bank is still exploring options for other branches near the planned Gordie Howe International Bridge.
Officials said the changes are being driven by the changing landscape in the city. “The developments underway will spark further growth in Detroit,” Mike Ritchie, Comerica’s Michigan Market president, said in a statement.
In other parts of the downtown area, a new Comerica office will be built near the future Little Caesars Arena, the massive sports and entertainment venue that opens this fall. The bank didn’t specify a location or a date.
In New Center, one branch is being closed and relocated while another new branch prepares to be open. Comerica is selling its West Grand Boulevard-Sterling branch office to Henry Ford hospital system to make way for a cancer research building slated to open next year. Customer accounts from that branch will be moved to the nearby Fisher Building branch.
A temporary drive-thru office will open in early April at 2838 W. Grand at the corner of Lincoln Street.
Comerica plans to open a new office in the Third & Grand development, which is being built now in New Center.
In southwest Detroit, a Comerica branch at Fort and Military has been sold to the state of Michigan to make way for the planned Gordie Howe International Bridge. That office will be merged with a Comerica branch at West Vernor and Inglis, the company said.
As more details of development involving the planned bridge becomes public, Comerica may open a new location in the area.
“Comerica will continue to evaluate options for potential sites in this area as construction of the new bridge progresses and plans for related developments evolve,” the company said in a written statement.
Comerica Bank is a subsidiary of Comerica Incorporated. Last year, Comerica announced plans to consolidate a dozen banking centers in Michigan in 2017. Comerica moved its headquarters from downtown Detroit to Dallas in 2007.