SEATTLE-Local real estate firm Harbor Properties this month is moving its headquarters from one of its owned properties to another. Harbor Properties president Doug Daley tells GlobeSt.com the move from the Logan Building at 500 Union St., where it has been based for decades, will allow one of its tenants there to expand while the move into the building at 1411 4th Ave. soaks up a full-floor of availability that had been on the market "for a while."

Charles Schwab, which currently occupies ground-floor retail space at Harbor's current location, is planning to expand its offices by taking a 65% to 70% of the approximately 6,000 sf of office space being vacated by Harbor on the second floor of the Logan Building. Daley says negotiations are under way with several tenants for the remainder.

The fifth floor of 1411 4th Ave. building, meanwhile, had been vacant for a while. "We were having a hard time finding a full-floor user for the space because that building's floors are primarily multi-tenanted," Daley says. "The combination of that and Charles Schwab looking for additional space caused us to determine that this was a good opportunity."

The two buildings are located about two blocks apart. The asking rental rate at the Logan Building is $20 to $24 per sf per year, according to officespace.com. The asking rental rate at the 1411 Fourth Ave. building is $17.50 to $19.50 per sf per year. The leasing activity takes occupancy to around 90% at the Logan Building and to around 95% at the 1411 Fourth Ave. building.

Founded in 1972, Harbor Properties owns, manages and develops office, retail, multifamily and resort properties. The company as of late has been primarily focused on apartment and condominium development.

Last October, the company broke ground in the University District here for a six-story, 77-unit apartment project and later this spring it will start moving dirt for a 72-unit project a short ways away. The project under construction is, Helix, a 77-unit complex on 12th Avenue Northeast south of Northeast 50th Street. Next month, the company expects to break ground for Ellipse, a 72-unit project that will rise a short ways further down 12th Avenue.