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RIO BANK BUILDING PUBLIC ANNOUNCEMENT

Rio Bank has been growing steadily over the last Thirty Five years and we are excited to announce our new Rio Bank Corporate Headquarters in McAllen. Our 115,000 square foot office building is a Class A Plus facility with tenant space as well as our bank. Rio Bank will occupy the first floor, second floor and the sixth floor. The remaining floors will be available for lease. The building will be ready in the Spring 2020.

LOCATION OVERVIEW

High visibility location with easy access to all parts of the Rio Grande Valley via Expressway 83. Adjacent to the high-end Newport Landing subdivision and minutes from Historic downtown McAllen and the McAllen Country Club/Country Club Terrace via Jackson Ave and McColl Rd. Additionally, Rio Bank Building is 5 minutes from the McAllen airport. The property is also in close proximity to McAllen Heart Hospital and Rio Grande Regional Hospital, both a part of the McAllen Medical Center.

PROPERTY DETAILS

Office Space for Lease  ∼  115,086 SF available  ∼  New Class A+ Office Development 

  • Lease Rate:  $24.50 Sf/Yr (NNN)
  • Parking Ratio:  3.5/1000, surface
  • Number of Floors:  6
  • Energy Star Certified

 

Click here for our Headquarters Lease Brochure

 

Important Announcement from Rio Bank

April 9, 2019

Rio Bank announced today that it has entered into a lease agreement with The University of Texas Rio Grande Valley for space in the bank’s new six story office building located at 701 E. Expressway 83 in McAllen. UTRGV will occupy 27,644 square feet of space on the fifth and sixth floors. Dr. Guy Bailey, President of the University, said, “We are pleased to house some of our administrative offices for the University within the city limits of McAllen.” The offices will house Institutional Advancement, Governmental and Community Relations, and other offices as well as offices for the President and other institutional leaders. The move, which was approved by the UT System Board of Regents in February, will allow the University to vacate much needed space on the Edinburg campus for the expansion of student support services such as Academic Advising, Career Counseling, and other student support services. Dr. Bailey went on to say, “Being located on the expressway and close to the airport is a big plus for us, and the Rio Bank office building is just what we need as we continue to grow.” The University will soon begin finishing out its spaces in the building with hopes of moving into the new space in August or September.

In addition to the prime location, the building also boasts state of the art facilities with every aspect of the property and building being perfectly thought out. This attention to detail has earned this new office building a Class A+ rating. A few years ago, the Rio Bank Board of Directors began to look at relocating the main office to expressway frontage and building a corporate headquarters. They not only kept in mind the growing needs of the bank and the bank’s customers but they also wanted to make space available to businesses in the community, following a study which determined that the Rio Grande Valley did not have Class A+  office space available for the growing professional community. Allotting additional space in the building to facilitate that demand is just another way Rio Bank has shown their passion for helping community businesses.  

Rio Bank has already begun finishing out bank space on parts of the first, second, and sixth floors and expects to move its bank operations into the building in July. “Rio Bank is a Valley bank run by Valley people,” said Ford Sasser, President and CEO of Rio Bank. “Our customers are Valley people that depend on community banking. That’s why we have made a capital investment in this building, which we believe will do two things. First, we wanted the building to be a landmark that the Valley can be proud of, and second, we wanted to show the Rio Grande Valley the commitment Rio Bank is willing to make in this area.”

The building is strategically located on the expressway, making access to the entire Rio Grande Valley easy. It has access to the property from McColl, Jackson, and Expressway 83’s Frontage Road. It is also just minutes away from the McAllen Miller International Airport as well as three hospitals, the McAllen Country Club, and several of the city’s major shopping areas. Sasser ended by saying, “We are pleased to have Dr. Bailey and his staff occupying space in our new office building and we look forward to announcing other businesses that will be moving into the 115,086 square feet of rentable space.” Interested parties are encouraged to contact leasing agent, Christi Griggs, with CBRE at 210-912-4324.