CalSTRS Approves Planned Expansion in West Sacramento

2018年12月18日

教师退休委员会, trustees of the California State Teachers’ Retirement System, 批准建设近275座,000 square foot expansion of its West Sacramento headquarters.

The additional space will allow the organization to grow in order to meet increasing complexities inherent to implementing the CalSTRS协同投资模型 以及养老金计划的持续管理, while maximizing investment assets 和 capital returns for the fund over the long term.

The board’s decision sets the timeline in motion to construct the exp和ed facility adjacent to CalSTRS’ existing West Sacramento location, 预计将于2021年年中完工. 另外, 扩张的决定将使200多家公司陷入困境,000平方英尺 of rentable office space available for lease in CalSTRS’ current riverfront LEED白金，零废物认证建筑. The potential for third-party lease revenue also further increases the investment capital assets of the Fund. Dem和 is expected to be high given the lack of Class A, LEED office space available in or near the downtown area.

“There is no comparable office space available for lease in the Sacramento region that sits right in the urban core,首席投资官Christopher J. Ailman. “This expansion will allow the Investment Office to continue to grow our internal management. The more investments we can manage in West Sacramento, the less we have to pay external Wall Street firms. In fact, each internal investment manager added saves the Fund about $1.每年200万的外部管理费. A critical component of the new CalSTRS Collaborative Model is hiring quality staff that can oversee 和 directly manage investment opportunities. And a new, exp和ed headquarters facility allows us to grow, attract 和 retain that talent.”

西萨克拉门托市长克里斯托弗·卡巴尔登补充道, “CalSTRS has been a great neighbor the last 10 years 和 we’re enthusiastic about their expansion. I’m thrilled that West Sacramento will get progressively-designed 和 innovative office space on the leasing market that will bring in tenants who share CalSTRS’ environmental 和 community spirit.”

In 2006, 当CalSTRS批准目前的409时,000平方英尺总部, future expansion was factored into planning considerations given forecasted membership, 基金资产和员工增长. 随着组织的发展, optimization efforts at the existing headquarters allowed space usage to be extended three years beyond what was originally intended. This provided CalSTRS with time to diligently research 和 examine various expansion options, 包括在当前位置的施工, acquiring an existing building or leasing additional space in the region.

该建筑扩建面积近275平方米,000平方英尺, which is tightly-budgeted not to exceed $300 million, is anticipated to be financed through lease revenue bonds, 包括绿色债券的可能性. Though the final budget figure is not expected until late summer 2019, analyses of funding options demonstrated that lease revenue bond financing is the most efficient vehicle 和 the best long-term value in terms of cost 和 operational efficiency.

该建筑由 ZGF建筑事务所 同时还有咨询和监督 里奇资本公司. 和 DPR建设, 将是该地区最具可持续性的, 提供的不仅仅是环境效益, but promoting health 和 community connectivity as well. The design effectively realizes the purposes of CalSTRS member services 和 employee productivity, while incorporating construction strategies that are commercially acceptable for a long-term organizational asset. 另外, the building will feature 80% onsite renewable energy, 使CalSTRS能够实现 零净能量 (ZNE)设施名称.

首席投资官Chris Ailman继续说道, “Investing in our expansion contributes to the CalSTRS mission to secure the financial future of our members by building the assets of the fund 和 our ability to efficiently 和 reliably provide their retirement benefits. 作为一个长期的机构投资者, we have a sustained history of considering the evolving factors surrounding building construction, 包括减少资源消耗, while ensuring capital expenditures are supported by an appropriate return on investment.”

“CalSTRS made a smart move for the economic growth of the region by making Class A office space available for lease,巴里·布鲁姆说, President 和 CEO of the 大萨克拉门托经济委员会. “When CalSTRS built their headquarters 10 years ago, they were thinking ahead by constructing with high-quality, durable 和 environmentally sustainable products on the waterfront, in an area poised for growth—all factors that attract the best tenants.”