A major tenant in one of downtown Dallas’ largest skyscrapers is staying put after considering relocation options.
Invitation Homes has decided to keep its headquarters in the 60-story Comerica Bank Tower on Main Street.
The rental home company occupies 40,000 square feet on two floors of the 1.5 million-square-foot office tower.
The company has been one of the largest tenants in Comerica Bank Tower since 2015.
“Our associates and our business have thrived in this open, collaborative space at Comerica Bank Tower,” Mark Solls, executive vice president of Invitation Homes, said in a statement. “The keys to this transaction were the flexibility provided by the landlord on additional space and the lease term.
“We can continue to focus on our business knowing that we have a good space to grow and thrive.”
Invitation Homes occupies the 19th and 20th floors of the building with a split-level office that includes mezzanine space.
The company is country’s largest owner and operator of single-family home rentals with 80,000 properties in 16 markets.
“The current environment has been challenging for everyone, and as discussions advanced with Invitation Homes, it became clear we could provide optionality that would produce an ideal real estate solution for them both near-term and long-term” said Mike Silliman of M-M Properties, who represented the building owner, TriGate Capital, in lease negotiations with Sharon Friedberg of Fischer & Co.
The Invitation Homes lease is the third large office renewal in Comerica Bank Tower. Law firms Faegre Drinker and Morgan Lewis also recently recommitted to spaces in the high-rise.
Other major tenants in the tower include Comerica Bank, K&L Gates, Marsh USA and Fish & Richardson.
About 450,000 square feet of space is vacant in the building.
Famed architect Philip Johnson designed the skyscraper, which opened in 1987.