Fifth Third’s shift northward adds to the growing number of downtown departures after AT&T moved its headquarters.
DALLAS — Fifth Third Bank is planning a major shift, leaving its space in downtown Dallas’ Comerica Bank Tower and establishing its Texas regional headquarters in North Dallas following its merger with Dallas-based Comerica.
The bank announced Wednesday that it signed a long-term lease at Preston Center, a new office development at 8300 Douglas Ave. in North Dallas, where it plans to occupy two floors and open an on-site banking center. The building is under construction, and Fifth Third expects to move into the space in late 2028. The bank said its North Park office will serve as a temporary headquarters until then.
The move marks another high-profile office departure from downtown Dallas. Fifth Third completed its acquisition of Comerica earlier this year. The combined company has also said it plans to open 150 new branches across Texas by 2029 as part of a $700 million investment. More than 50 sites have already been secured, including 23 in North Texas.
“As part of its ongoing real estate portfolio optimization as a new combined company, Fifth Third also plans to exit Comerica’s prior leased space at Comerica Bank Tower in Dallas,” the company said in its announcement.
Brian Enzler, Fifth Third’s North Texas region president, said the Dallas area will become one of five major employment hubs for the company.
“While Preston Center will be our regional headquarters, we expect to maintain multiple office sites across Dallas,” Enzler said.
The Fifth Third move follows another major corporate departure from Downtown Dallas. Earlier this year, AT&T announced plans to relocate its headquarters to Plano by 2028. The Boston Consulting Group found last year that AT&T’s move would result in a 30% decrease in property values, costing the downtown area an estimated $2.7 billion in overall value. The departure of a major headquarters tenant also raised concerns about the long-term impact on downtown real estate and economic activity.
For Fifth Third, the latest announcement keeps Dallas at the center of its Texas strategy — but shifts the bank’s headquarters footprint north of downtown as it moves forward with its post-merger plans.