FEDERAL WAY, WA—Weyerhaeuser is moving from the suburbs to Seattle's Pioneer Square neighborhood, a move that will allow downsizing and cost-savings.
The timber company plans to move its headquarters from Federal Way to 200 Occidental Ave., Seattle, in mid to late 2016, according to a statement released Tuesday on the Weyerhaeuser website.
Weyerhaeuser intends to sell its Federal Way property which is comprised of 750,000 square feet of office, research and industrial space.
“There are two main drivers for this decision, which we made after thorough analysis of various options for the location of our headquarters,” said Doyle Simons, president and CEO. “First, our 430-acre campus in Federal Way is costly and too large for our needs. Second, moving our headquarters to Seattle will give us access to a larger talent pool to meet future recruiting needs, not just in this region, but from across the country.”
“Weyerhaeuser has a long successful history in Federal Way,” Simons said. “We've attracted great people to work here and this campus has served us well. Moving to Seattle is an important step forward for us and I'm excited about the opportunities it will bring to our company and employees.”
The Seattle Times says the publicly-traded firm has been downsizing its operations in recent years, having spun off non-core divisions. Weyerhaeuser moved to Federal Way in 1971 from Tacoma, where it was founded in 1900, the Times notes.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
