AT&T has plans to sell its regional office complex in Bishop Ranch due to changes in spacing needs. The building at 2600 Camino Ramon is 1.8 million square feet.
"Due to changes in the business and increased employee mobility, we plan to sell the building... and lease back the space we'll need for our continued occupancy," AT&T Spokesman Alexander Carey said.
According to reports, AT&T will occupy approximately 900,000 square feet.
"It's a change in corporate direction, I imagine they don't want to own real estate any more, but manage real estate," San Ramon Mayor Bill Clarkson said.
AT&T has reportedly shifted many positions from San Ramon to Texas, where the cost of doing business is lower, and no longer needs the large business park. The sale will not result in job losses for the company's 8,500 employees.
"Over the next couple of years, we'll be remodeling areas of the building and consolidating work space to create a combination of shared and dedicated spaces that will better accommodate our more mobile workforce," Casey said.
Although he did not have details, Clarkson said he had heard that two or three companies are currently bidding to buy the building.