DEAL OF THE WEEK
Comerica gets naming rights with its lease at Two Riverway
Comerica Bank will get its name at the top of 17-story Two Riverway building as part of a deal to relocate its Houston market headquarters from Brookhollow Central to the Galleria area midyear.
The Dallas-based bank has leased 34,624 square feet in the building, according to Stream Realty Partners.
The new office, just south of Woodway near South Post Oak Lane, will house Comerica’s middle market banking, treasury management, small-business banking, wealth management and human resources operations, according to Comerica. Two Riverway’s design and collaborative, high-tech workspaces factored in to the relocation decision. The bank will move from 219,000 square feet at Brookhollow II, 2900 North Loop West near U.S. 290, by August.
“We look forward to moving to a more centralized location and joining other businesses in the thriving Galleria area,” Houston market president J. Downey Bridgwater said in an announcement.
Comerica will occupy the 14th floor and half of the 13th floor, according to Stream. Ryan Bishop and Craig McKenna of Stream represented the landlord, Sidra Real Estate, in the lease.
Doug Elliot of CBRE represented Comerica, which has nearly 50 banking centers and more than 450 employees in the Houston area.
The new market headquarters will be smaller in size, but Comerica said staffing levels will remain the same. All employees at the Brookhollow location, which Comerica gained with the acquisition of Sterling Bank in 2011, will move to the new Riverway location.
Sidra Real Estate, which has owned the property since 2008, is wrapping up the first phase of improvements at the building including a new lobby, outdoor seating areas and landscaping. Ziegler Cooper Architects designed the renovations. Stream, which manages and leases the building, is overseeing the project.
“Two Riverway’s prime location and comprehensive renovation project supports Comerica’s customercentric culture and provides a fresh amenity-rich environment for their employees,” Sidra Real Estate president David Barry said in an announcement.
The bank’s brand will go where the CB&I name used to be, according to Ryan Bishop, executive vice president with Stream. CB&I vacated 160,000 square feet, or about 45 percent of the building, last year.
In 2017, 101,000 square feet has been leased there including the Comerica space and a 30,061-squarefoot renewal and expansion by Ace American Insurance Co., according to Stream.