Article published January 23, 2007
Fifth Third Bank to move downtown headquarters into One SeaGate
BLADE STAFF
After more than a year of discussions, Fifth Third Bank announced today it is moving its downtown Toledo headquarters into One SeaGate.
The former headquarters for Owens-Illinois Inc., which moved to Perrysburg last year, will be renamed Fifth Third Center at One SeaGate. About 350 Fifth Third employees from downtown Toledo and a Sylvania Township office are expected to move in by year end after parts of the 32-story office tower are renovated for banking uses.
“I am really thrilled to be here to talk about our plans to renovate and reconfigure what I believe to be Toledo’s crown jewel,” Robert LaClair, president and chief executive of Fifth Third Bank (Northwestern Ohio) said.
As part of the deal, the landlord for the half-empty officer tower on the banks of the Maumee River is buying Fifth Third’s current 17-story downtown Toledo headquarters at Madison Avenue and Huron Street.
Officials from both Fifth Third and the landlord, RVI Group Inc. of Stamford, Conn., declined to discuss financial details of the transaction.
With Fifth Third as a new main tenant in One SeaGate, RVI Group and its marketing contractor are expected to have an easier time attracting other tenants to fill up the building. The tower, with 707,000 square feet of rentable space, was built in 1981 at a cost of $100 million.
Read more in later editions of The Blade and toledoblade.com.
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