RENTON, WA-The Federal Reserve Bank of San Francisco this week closed on its acquisition of 10.8 acres here that will house its Seattle metro branch, which is currently located in a 110,000-sf building in Downtown Seattle. The Fed plans to relocate in late 2007 or early 2008. The property is located within the Longacres Office Park. An FRBSF source tells the purchase price for the land was $7.6 million. No details have been released with regard to size or design of the new facility, and no contractor has been chosen, according to the source. The FRBSF owns its existing location in Downtown Seattle, a 54-year-old building on one-half block that does not meet the post-9/11 standards for perimeter security and setbacks, according to the source. That building will be put up for sale by CB Richard Ellis “at the appropriate time,” she says. The 10.8 acres is a portion of a larger 205-acre campus that Boeing purchased in 1990. Boeing subsequently developed 64 acres as the site of the Boeing Commercial Airplanes headquarters. Boeing learned of the purchaser’s desire to relocate within the Greater Seattle Metropolitan area and determined that this specific portion of the site was not needed for current or future Boeing operations. The FRBSF signed of a purchase and sale agreement for the parcel in November.Boeing Realty also this week sold Auburn Commerce 240, a 30,000-sf high-tech industrial facility in the Auburn 400 Corporate Park. The unoccupied building is directly across from the SuperMall with immediate access to Highway 167, Highway 18 and Interstate 5. The new owner is Glacier Capital LLC.

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?


© 2023 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.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2023 ALM Global, LLC. All Rights Reserved.