AUSTIN, Texas – Friday the Teacher Retirement System of Texas (TRS) announced the sale of its 3.8-acre Red River headquarters. The property was sold to a real estate fund for $108 million.
TRS aims to help educators by investing assets, managing and delivering benefits to those who wish to complete their teaching career.
TRS will remain in the building until its new headquarters Mueller business district is ready for occupancy. According to a press release, the new location will save money on downtown rental costs and give employees more office space.
“Occupancy of the Alpha building at the new facility is expected to begin in summer 2023, with the remaining TRS staff relocating to the adjacent Bravo building in late 2024,” TRS said in a press release.
TRS’ Red River headquarters housed just over 200 employees and 300,000 members when it began in the 1970s. Today, TRS has nearly 1,000 employees and nearly 1.9 million members.
A regional office is expected to open in November 2022 in El Paso, Texas.
https://www.kvue.com/article/news/local/retirement-system-sells-downtown-headquarters/269-35cac9ba-7eda-4430-9030-6ebca953ee99 Teacher Retirement System of Texas Headquarters sold for $108 million