In a press release, AT&T's management team says the move to a corporate-owned, one-million-sf office building at 208 S. Akard St. will be completed by year's end. An AT&T spokesman tells GlobeSt.com that the company's management team will continue "to evaluate our long-term real estate needs" once it sets down in the CBD building. He says floors are being finished out right now for the first wave of transfers. AT&T inherited the CBD real estate, assessed at $85.6 million, as the successor to Southwestern Bell, which has owned the complex since January 1985.

The spokesman says the 700-employee headquarters team will shift cities, with the 5,300-employee telecom operations group staying in San Antonio. AT&T occupies several buildings in San Antonio, with its headquarters at 175 E. Houston St. in the CBD. AT&T opened doors in 1992 in San Antonio when it moved from St. Louis.

"We're a growing global company with customers and operations around the world," Randall Stephenson, AT&T chairman and CEO, says in this afternoon's press release. "Being headquartered in Dallas will benefit our long-term growth prospects and human resources needs, and our ability to operate more efficiently, better serve customers and expand the business in the future."