Photo courtesy ZGF Architects
The Teachers’ Retirement Board, trustees of the California State Teachers’ Retirement System (CalSTRS), approved the expansion of its West Sacramento headquarters with the construction a nearly 25,548-m² (275,000-sf) facility. The additional space will allow the organization to meet increasing complexities of implementing the CalSTRS Collaborative Investment Model and ongoing administration of the pension plan, while maximizing assets and capital returns for the fund over the long term.
The new facility is expected to be completed in mid-2021. The expansion will make more than 18,580 m² (200,000 sf) of rentable office space available for lease in CalSTRS’ current riverfront building that has a zero-waste certification and a Leadership in Energy and Environmental Design (LEED) Platinum rating.
“There is no comparable office space available for lease in the Sacramento region that sits right in the urban core,” said chief investment officer 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.”
The building’s expansion is anticipated to be financed through lease revenue bonds.
According to CalSTRS, the building, designed by ZGF Architects LLP along with consultation and oversight from Ridge Capital Inc. and DPR Construction, will be sustainable, provide environmental benefits, and also health and community connectivity. Additionally, the building will feature 80 percent onsite renewable energy, enabling CalSTRS to achieve a zero net energy (ZNE) facility designation.
