UTRGV leases space in Rio Bank’s new building

Rio Bank announced that UTRGV will occupy 27,644 square feet of space on the fifth and sixth floors of Rio Bank’s new building, located at 701 E. Expy. 83 in McAllen. 

According to Rio Bank’s building public announcement, the space will house UTRGV’s Institutional Advancement, Governmental and Community Relations, and other offices as well as offices for the president and other institutional leaders.

In an email to the campus community April 10, UTRGV President Guy Bailey said he “will continue to rotate among our various campuses and facilities as I have since the opening of the institution.”

“We got approval from the [University of Texas System] board of regents in February,” said Patrick Gonzales, associate vice president for University Marketing and Communications. “We are trying to move as many administrative offices that don’t directly interface with students.”

Gonzales said the lease is for 10 years and will cost around $620,000 per year. He also said student tuition cannot pay for things like this. 

The move will provide needed space on the Edinburg campus for the expansion of student support services, such as Academic Advising, Career Counseling and other student support services.

“This office building has about 115,000 square feet available to lease,” said Ford Sasser, president and CEO of Rio Bank. “We picked this particular piece of property for the bank for the same reasons that the university picked the property, which is that it’s right on the expressway, which makes it easily accessible to other towns up and down the [Rio Grande] Valley.”

Sasser also said that the COVID-19 outbreak has only slowed down a little bit of the construction and that the anticipated completion date of the building is June 20. 

The building is strategically located on the expressway, making the entire Rio Grande Valley easily accessible. It has access to the property from McColl and Jackson roads and Expressway 83’s frontage road. It is also a few minutes away from McAllen Miller International Airport and major shopping areas.

According to Rio Bank’s building public announcement, a few years ago, the Rio Bank of Directors began to look for a place at the expressway frontage to relocate their main office and build a corporate headquarters. Following a study that determined that the Rio Grande Valley did not have enough space available for growing businesses in the community, Rio Bank wanted to make space available to other businesses, as well as to tend to the bank and its customers’ needs.

“We are certainly excited about having the university and their administrative offices in there,” Sasser said. “We think it’s going to be good for the university. I think it’s going to be good for our bank.”