Wednesday, August 27, 2014 9:30 am

FEDERAL WAY, Washington -- Weyerhaeuser Company has announced it will move its headquarters from Federal Way, Wash., to 200 Occidental Avenue in Seattle, Wash.

The move will occur in mid to late 2016 when construction of the new building is complete.

"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 R. 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."

The company will divest the land and buildings it owns in Federal Way, Wash.

"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."