What You Need to Know
- Schwab will keep its offices in the building through April 2028, despite moving its base to Texas in January.
- The price is said to be around $400 million.
Charles Schwab officially moved its headquarters to the Dallas area in January, about three months after it wrapped up its $22 billion purchase of TD Ameritrade. Now, the building that houses its remaining offices in San Francisco — located in a 17-story structure owned by Blackstone Group — is up for sale.
The price? Roughly $400 million, according to the San Francisco Business Times, which notes that Blackstone bought the building for about $310 million in 2017 and is now offering it at 25% discount to market prices.
Schwab is set to keep its offices in the building through April 2028, despite moving its base to the Lone Star State, through a lease agreement.
“Schwab was founded in San Francisco and has maintained a longstanding commitment to the Bay Area, which will continue,” according to a company spokesperson. “Schwab continues to hire in the Bay Area and expects to retain a sizable corporate footprint in the city.”