Though not the equivalent of global financial services giant Russell Investments Group leaving town, Ticor Title Company has confirmed it is looking to relocate its Tacoma headquarters, located at 1120 Pacific Avenue in downtown.

The company currently occupies approximately 12,000 square feet of Class B office space in a 38-year-old, 21,300-square-foot building owned by the Master Builders Association of Pierce County.

“Closing this branch would really just be a re-location,” said Ticor Title Tacoma branch president Brian Kelley during a phone interview Monday afternoon. Kelley said he believed the company has been located in the downtown building for the past 20 years. “Fifteen employees in a space over 12,000-square-feet -– that’s pretty large.”

Currently, GVA Kidder Mathews in Tacoma is marketing 6,200 square feet of leasable office space inside the building.

Whether Ticor Title will relocate to a smaller location downtown or out of the city center is unknown. “We’re still very early in the process,” said Kelley.

Ticor Title is the latest downtown business to consider relocating — though it hardly stacks up to some of the larger firms looking elsewhere.

This spring, Davita Inc. executives said the company’s 850 employees have outgrown its space in the former Schoenfelds Building, located at 1423 Pacific Avenue, and could move out of town before its lease expires in 2011.

Last fall, Russell Investments Group, which boasts 1,100 downtown employers, announced it would decide by year’s end whether to relocate outside of out of Tacoma, or build a new headquarters and remain in town.