Fifth Third Bank has chosen a new location in downtown Detroit for its regional headquarters office.
Fifth Third, which recently completed its acquisition of Comerica Bank, is relocating its Michigan headquarters from the One Woodward building, 1 Woodward Ave., to the One Campus Martius building a few blocks away.
Both buildings are owned by Dan Gilbert’s real estate firm Bedrock.
The move will also mean a consolidation of some employee teams that were situated in other buildings throughout metro Detroit, including Comerica’s Auburn Hills Operations Center and Great Lakes Campus in Farmington Hills, as well as offices in Birmingham.
A Fifth Third spokesperson said the Ohio-based bank is leasing about 92,500 square feet in the One Campus Martius building and occupying one and one-third floors. In the coming months, the Fifth Third Bank lettering at the top of the 28-story One Woodward building will be taken down.
“Michigan is a top-tier market for Fifth Third, and Detroit sits at the center of its economic future,” Steve Davis, the Fifth Third Michigan region president, said in a statement on Tuesday, March 31.
“Establishing our Michigan headquarters in downtown Detroit signals how seriously we take our responsibility to this state,” he continued. “One Campus Martius allows us to bring leaders and teams together in a way that strengthens collaboration, supports our customers and partners, and reflects our commitment to Michigan for the long term.”
Originally known as the Compuware Building, One Campus Martius is a 16-story pentagonal building that opened in 2003 and underwent an expansion about six years ago. The building also serves as the corporate headquarters for Gilbert’s Rocket Companies.
Although the building faced a period of lower vacancy once Meridian Health left about four years ago, it lately has refilled floors with new office tenants, including an automotive consultancy, Urban Science, that relocated from the Renaissance Center.
“Fifth Third’s decision to locate its Michigan headquarters in the heart of Detroit reinforces two things,” Bedrock CEO Jared Fleisher said in a statement. “First, the enduring commitment of this preeminent financial institution to our great city. And second, that Detroit is the rightful home for the country’s best companies.”
Contact JC Reindl: 313-378-5460 or jcreindl@freepress.com. Follow him on X @jcreindl
This article originally appeared on Detroit Free Press: Fifth Third Bank relocates its downtown Detroit office
Reporting by JC Reindl, Detroit Free Press / Detroit Free Press
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