SEATTLE-Equity Office Properties Trust is taking over management of its office properties in the region, a task Wright Runstad & Co. has been charged with since 1997.

Equity Office, which owns a minority interest in Wright Runstad, will assume management responsibility for most of its 16-building, 6.2-million-sf Pacific Northwest portfolio next year. In doing so, Equity is expected to hire virtually all of the 125 employees who make up the existing property-level management staff at Wright Runstad.

Wright Runstad spokesman Alex Pietsch tells GlobeStcom that Equity’s decision in no way impacts the strong strategic relationship the two companies have developed, or their ability to work together on future development projects. “Being a public company and a national company, it makes sense for them to manage their properties here the way they do all over the country,” notes Pietsch. “When we signed an agreement with them in 1997, we knew there was a three-year deadline and knew this was a possibility.”

According to Pietsch, Wright Runstad will continue to perform management services at the Building, World Trade Center West and North, King Street Center in Seattle and the ODS Tower in Portland, all buildings in which Equity Office has no ownership interest. Wright Runstad will also continue to manage the Washington Mutual Tower, which it owns in partnership with Equity Office.

Wright Runstad has developed 14 million sf of office space in Seattle, Bellevue, Portland and Boise since being founded in 1972. While the move by Equity Office significantly reduces the number of properties Wright Runstad manages, Pietsch says his company remains committed to the development/property management approach it has taken over the years.

Wright Runstad currently has four Puget Sound projects under development. They include the North Building, the Dearborn@5/90 project, Southport in Renton, and Four Bellevue Center in Bellevue, which will provide more than two million sf of office space when all buildings are completed.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.