- Associated Press - Tuesday, August 26, 2014

SEATTLE (AP) - Weyerhaeuser Co. said Tuesday it’s relocating its corporate headquarters to Seattle from its longtime home in the south Seattle suburb of Federal Way.

The existing 430-acre campus is costly and too large for company needs, company President and CEO Doyle Simons said. The move will give the company access to a larger talent pool to meet future recruiting needs, he added.

The move will happen in 2016 when construction of a new building in Seattle’s Pioneer Square area is complete.

The 800 employees in the current corporate office building will relocate to the new Seattle facility, while 120 research-and-development employees at a nearby technology building will stay in Federal Way, The Seattle Times reported.

The company said it will market its Federal Way land and buildings. Company spokesman Anthony Chavez says Weyerhaeuser will lease the technology building after selling it.

Weyerhaeuser is one of the world’s largest private owners of timberlands and one of the largest manufacturers of wood and cellulose fibers products. Founded in Tacoma in 1900, it moved its headquarters to Federal Way in 1971.

In May, the company confirmed that it planned to spin off its real estate unit, leaving it free to focus on its timber and paper products business.

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